FUG Pensions’ assets hit N52bn

By Maduka Nweke

The Managing Director of FUG Pensions Limited, Mr. Usman Suleiman, has said that the target of the company is to be among the best five Pension Fund Administrators (PFAs) in the country.
Suleiman disclosed this in an interview with journalists at the firm’s office recently in Lagos that the company had in the past 10 years laid solid foundation to propel it to top echelon in the industry.
He said the firm’s assets now stand at above N52 billion, with about 150,000 active and retirees’ accounts, adding that the firm recorded pre-tax profit of over N230 million last year.
Suleiman noted that in 10 years of the firm’s operations, the vision of the management and staff remained to be the most trusted operator in the industry and to also achieve competitive returns for clients.
He maintained that the current vision of the firm is to return efficient returns to clients and be the most trusted, stressing that with this in mind, getting to the top five in the industry will be achieved with ease.
“In the first 10 years, our vision is to be the most trusted firm in the industry. Our mission is to achieve competitive returns for our clients. I am delighted to say that over the past 10 years, we have actually realised that.
We are indeed, highly trusted by our clients; regulator and competitors. We have not only been able to compete in terms of our returns on investment, over the past three years, our Retirement Savings Account (RSA), has ranked amongst the top three in the industry.
“Our new mission is to achieve outstanding returns to our clients and efficient benefit administration to our retirees. The vision is to be the most trusted and remain the PFA of choice.
“We survived the first 10 years in spite of all odds, as an entity and positioned ourselves in course of growth. Over the years, we are not only looking at achieving that growth and be the most trusted firm, we are looking at breaking into the top most echelon in this market. By the end of the next 10 years, we do not see ourselves anywhere outside the top five PFAs in this industry,” he said.
He noted that though PFAs sell a mono product, his firm has segmented the market and offers best service delivery, stressing that customer service excellence and outstanding returns on investment, distinguished the firm from other PFAs.