In line with the provisions of the Contributory Pension Scheme (CPS), Leadway Pensure has said it will continue to strive to satisfy retirees through superior engagement and strategic investment of funds for competitive returns.
The firm also assured the retirees of the safety of their funds.
Speaking at a three-day retiree forum themed: ‘Life at Retirement’ in Lagos, the Head, Benefits Processing Department, Leadway Pensure, Tade Gbadebo, revealed the desire of the PFA to continuously satisfy its customers.
He also noted that the forum provided an opportunity for retirees to understand the performance trend of their funds, get updates on industry happenings and have all their concerns regarding the scheme adequately addressed.
He said there are investment guidelines which stipulate how funds in the CPS are invested, such that the allowable risks in investment portfolios for an active person differs significantly from the portfolios for a retiree, who does not have income expectation from any other source
According to him, “The retiree fund started in 2009 and has recorded a steady growth over the years through attractive investment returns. There are investment guidelines which stipulate how funds in CPS are invested, such that the allowable risks in investment portfolios for an active person differs significantly from the portfolios for a retiree, who does not have income expectation from any other source, this is why at Leadway Pensure, we always ensure that those funds are invested in a manner that will not jeopardise its existence.
“The essence of pensions is sustainable lifetime payment and as such, the hearsay that retirees’ pensions would be exhausted within few years after retirement is unfounded.”
He also stated that the steady and competitive returns which have accrued over the years had resulted in the recent increase in earnings of some eligible retirees, “as approved by PenCom and this is expected to continue from time to time as approved by the commission.
During the forum, retirees were taken through how their monthly pension payment is calculated and arrived at as well as factors that are responsible for determining the value of their lump sum at retirement.
The forum also enlightened the retirees on the dynamics of pension’s payments and fund growth and how Leadway Pensure constantly ensures the retirees have meaningful lives at retirement.