PAL Pension position to explore opportunities in micro-pensions

As the nation’s pension industry prepares to explore the informal sector through micro pension initiative, PAL Pension Limited said it’s strategizing to take advantage of the opportunities that will be offered by the development.

This, PAL said would increase its clientele base, expand network and at the same time increase its share of the market.

Godwin Onoro, executive director, Finance and Operations at PAL who made the remark at the World Pension Summit Africa Special held in Abuja said  the micro pension market is huge and untapped, and  is capable of bolstering the future of pensions business in Nigeria

Onoro said the pension industry holds a great future for the economy and that operators are getting to the peak of the formal sector remaining the informal sector, stating that unlocking the informal sector requires efforts of the entire industry – the regulator and the operators at large.

According to him, the frame work as it is has not been fine tuned; all we are doing now is to prepare the ground. “We will have activities when the regulation is actually out so that we can embark on market development without limitations because the picture, the modalities for operation will be clearly spelt out in the guidelines.

Onoro speaking on customer service effort of the company said, PAL Pension ranks first. “We have put structures in place to ensure quality service to our customers such that wherever you are, you can walk into our office and get services required.

“I think in terms of customer service, PAL Pension is one of the top three PFAs. We have six regional offices and we have presence in all the states of the federation.

Onoro said in terms of return on investments, Pal Pension is one of the Pension Fund Administrators that put smiles on the faces of the retirees through returns on investments of their savings. He said in the midst of the recession, Pal Pensions does not give excuses but has always given  the best that  will make the contributors happy,