The pension asset under management of IEI-Anchor Pension Managers Limited, a pension fund administrator, rose by 18.6 per cent to N109bn in the 2019 financial year from N92.9bn in 2018.

According to a statement on Friday entitled ‘Pension Asset of IEI-Anchor PFA hits N109bn,’ the Chairman of the company, Senator Rufai Hanga, disclosed this during its annual general meeting.

The PFA said it generated 7,965 Retirement Savings Account Personal Identification Numbers in 2019.

He said he was optimistic that the coming year would usher in new vistas for further growth of IEI-Anchor Pension Managers.

The company, he said, was gearing towards leveraging on the exercise to increase its asset under management while exerting no lesser effort to maintain its existing clients.

He said, “The industry ratings on our funds have also risen. Out of the 22 pension fund administrators, we were the eighth in ranking on RSA Fund I, second in Fund II, 18th in Fund III and 16th in Fund IV; this was as at July 2020.

“This portends a continuous improvement for the company. I am by this appreciating our management team and urging them to maintain this momentum. We are also expanding our projections to increase our client base.”

The Managing Director, Mr Glory Etaduovie, said that in the next four years, the company would have doubled its worth and value in terms of assets under management, size of revenue income, market relevance and acceptability, staff size, job security, efficiency and productivity as well as highly improved industry reputation.

He said, “Information technology department holds a strategic place in the heart of most organisations today. It is no less so in the pension industry. Our last year’s theme was ‘Inclusion and digitalisation’.

“It underscored the recognition and importance given to it in our growth plan. Information technology department has been enhanced, and is still undergoing transformation for more competitive services.

“It has been enhanced to the enable data recapture campaign activities and the strongly approaching transfer window.”

According to Etaduovie, a good customers’ service experience is near impossible in modern business without an efficient ICT infrastructure in place.

He also said micro pension remained a strong business growth potential, but would require patience, good entry strategies and business aggression with clear vision of the task ahead.

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