by Henry Uche
Stanbic IBTC Pension Managers has announced that it paid out over N1.3 trillion to retirees since the initiation of the Contributory Pension Scheme in 2004. Currently, the firm disburses approximately N7 billion monthly to nearly 80,000 retirees, showcasing its financial health with shareholders’ funds exceeding N60 billion. The substantial financial commitment underscores Stanbic IBTC’s dedication to exceptional service delivery for retirees and stakeholders alike.
The announcement follows a viral video highlighting a distressed client at one of the Pension Managers’ Experience Centres. In response, Stanbic IBTC promptly addressed the issue, resolving the concern and processing the client’s benefits within the established timeline.
Olumide Oyetan, Chief Executive of Stanbic IBTC Pension Managers, emphasized the firm’s strong position, stating, “Stanbic IBTC Pension Managers significantly surpasses the regulatory minimum of N5 billion, positioning us well to support our clients in achieving a secure retirement. Our vision—to secure the future of pension contributions through innovative solutions that empower them to retire well—is at the heart of everything we do.”
Oyetan further stressed the company’s commitment to timely payments and financial security in retirement. With a network of 40 branches across the nation, Stanbic IBTC ensures convenient access to services and support for its clients.
“We value client feedback immensely and continuously refine our services to better meet their needs,” Oyetan said. “Our emphasis on integrity and transparency fortifies our reputation as a reliable partner in retirement planning, enabling our clients to enjoy their retirement without financial worries.”
Stanbic IBTC also offers value-added services such as personalized financial planning advice and retirement planning tools. The company’s digital platforms, including mobile apps and online portals, allow clients to effortlessly monitor their accounts and track their funds’ growth, empowering them to make informed financial decisions.
Additionally, Oyetan highlighted the importance of effective communication, noting the availability of a 24/7 multilingual call centre to ensure clients can easily access support and information.
“We are committed to keeping our clients informed and engaged, reflecting our dedication to exceptional service and support,” he added.