Premium reiterates need for increased public awareness on CPS

Premium Pensions Limited has emphasized the need for increased public awareness of the workings, benefits and in fact imperative of the Contributory Pension Scheme (CPS) especially in the face of the current economic uncertainties.

Wilson Ideva,  The Managing Director/CEO of the Company while reacting to an award won recently by the company as the Online Pension-Company-of-the-Year, said the CPS is the only sure way to guaranteeing your future.

The company was represented at the award ceremony by Paddy Ezeala, the head of Corporate Communication who described the award as the reward for commitment, dedication and tenacity of purpose.

In August 2015, Premium Pension Limited was conferred with the Award for Mass Mobilization of Pension Asset, at the Commerce and Industry Awards by the Lagos Chambers of Commerce and Industry, LCCI. In November 2015, Premium Pension Limited received the UK’s International Organisation for Standardization (ISO) Certificate on Information Security Management System by the British Standard Institute, becoming the first Pension Fund Administrator (PFA) in Nigeria to receive the certification.

In 2015 Premium Pension paid over N87 billion to retirees and next-of-kin of contributors under the Contributory Pension Scheme under its administration. The above figure was paid to a total of 33,000 retirees and relatives of deceased contributors in its portfolio between 2007 and 2015.

The company in 2015 adopted the robust pension administration software, the Canadian Pension Administration Software (CPAS) to enhance its operations and have consistently posted Return on Investment on pension asset well above industry average and above inflation.

Also in 2015 the company introduced a mobile application known as the Premium Pension Mobile in response to the need for devices that would further close the gap between the company’s operations and its customers on the one hand and the customers and their Retirement Savings Accounts (RSA) on the other.