AXA Mansard Pension offers knowledge on performance of pension funds
Pension Fund Administrator, AXA Mansard Pensions Limited committed to growing the knowledge and understanding of the operations of the pension industry has offered tips to contributors and retirees on how to calculate performance of pension funds.
The PFA believes that proper understanding of the performance of pension funds would enable new and existing contributors and retires take certain decisions on where their Retirement Savings Account(RSA) should be domiciled.
According to the Company, people taking their first employment would need to understand this fact about how to calculate performance of pension funds, as that would enable them decide which pension fund administrator offers better value in terms of returns on investment.
“You have just secured your first job, and you are set to open a Retirement Savings Account (RSA), you need to first of all look at the fund prices of the PFA’s to know their level of returns, says Naomi Aduku, AGM, Business Development, AXA Mansard Pensions Limited during a media interaction in Lagos.
Aduku joined by Olwakanyinsola of the Investment Department and Tiamiyu, AGM, Investment said understanding this principles and calculation will help contributors, even as transfer window is being expected in the industry.
On readiness of the PFA for transfer window they said “We are optimistic and putting the necessary infrastructures in place to enable us key in and deliver quality service when it happens.”
They noted that the mission of the company is to achieve optimum return on invested funds while ensuring safety of both returns and contributions for the ultimate benefit of contributors.
“We are though a small player, we hope to become big player in the near future. Today our asset under management is N24 billion and about 60,000 RSA holders”.
We are poised to do a lot more, given our strength as a member of AXA Mansard Group, the Company stated.
AXA Mansard Pensions was incorporated in 2006 as Penman Pensions Limited. In the last quarter of 2014, Mansard Insurance plc acquired majority interest in Penman Pensions, thereby becoming the majority shareholder with a view to repositioning and transforming the company.
Axa Mansard Pensions is licensed to operate as a pension fund administrator to both private and public sector employees, while also offering pension advisory, investment and consultancy services.
The company maintains that its vision is to be a specialist pensions fund administrator providing reliable, efficient, secure and compliant services to clients and regulators even as its services offering includes retirement savings account, pension fund management and pension advisory services.