OAK Pensions records 76.8% growth in profit

OAK Pensions Limited one of the foremost Pension Fund Administrators profit rose by 76.8 per cent from N130.57 million in 2015 financial period to N230.88 million in 2016.

Awa Ibraheem, chairman, OAK Pensions, disclosed this in its annual report presented during the company’s 11th Annual General Meeting held in Lagos.

He also said that the company was committed to generating increased returns on the Retirement Savings Accounts of its contributors.

Ibraheem said, “We made profit this year and we are satisfied with the returns we are generating for our RSA holders which I believe is a product of the service we are rendering. What is important to us is effectiveness in the totality of the services to our stakeholders.”

He also said that OAK Pensions was increasing its accessibility in all parts of the country. While speaking on the efforts to take pensions to more Nigerians, he said that the company already has offices in the six geopolitical regions.

According to him, individual only needs to call the Company’s Call Center and be attended to.

He said, “In Lagos, we operate two offices; we have office in Uyo. We have offices covering South-West in Ibadan, Osogbo. We have in the South-South, we have in Asaba, we have in Port-Harcourt. In North-Central, we have in Abuja, we have all over the place.”

He further stated that the company will explore the potentials in the micro-pension scheme when it is officially introduced by the National Pension Commission. “We are more than prepared because we have started doing our background work, we are just waiting for the Federal Government to launch the scheme. What we do now is that we have a department that is devoted to micro-pension activities.