Trustfund engages retirees on documentations ahead retirement

To ensure that retirees prepare ahead of their retirement by taking care of necessary documentations that may become bottlenecks at the point of exit from their jobs, Trustfund Pensions plc, one of Nigeria’s leading pension fund administrators (PFAs), has continued its engagement with customers.

The event, which had old and new retirees in Trustfund’s operation in attendance, was packaged to keep the retirees abreast of new developments and issues in pension administration in the country, as well as receive from them feedback on how they (retirees) can better be served by the PFA.

As at July ending, 2014, Trustfund’s retiree investment portfolio showed as follows: equities, 0.43 percent; government bonds, 67.13 percent; corporate bonds, 6.34 percent; hybrid funds 0.00 percent; money markets, 20.38 percent and others. 5.80 percent.

In apparent response to concerns often expressed by pension contributors over delayed processing of payments in the event of the death of a contributor, due to difficulties associated with letters of administration, the PFA advised on the need for contributors to write their wills while alive so as to avoid turning to state governments for letters of administration for the processing of payments to deceased’s estate.

 Tunji Longe, head, Benefit Unit of Trustfund, who addressed the retirees, said the interactive session was organised majorly to feel the pulse of the retirees, know their concern, the way they are being attended to with respect to their monthly payments, as well as to strengthen and deepen the feedback mechanism between the customers and Trustfund Pensions plc.

The forum, so far held in various Nigerian cities, according to Longe, has afforded the PFA the opportunity of sharing the feelings of the retirees/customers and devising new means of making happier.

He said that through the forum, the PFA interacts with individual retirees in its operation and get to know changes occurring with the customers from the time they signed on to Trustfund. Such changes include changes in names, addresses, locations, telephone numbers and free medical check-ups to ascertain the health status of the retirees as part of measures to stay alive and enjoy their retirement savings.

Badmus Olarenwaju, commended Trustfund for periodically organising the forum which he described “a positive development in Nigeria’s pension fund administration.”

JOSHUA BASSEY