The Norrenberger Pensions Limited formerly known as IEI- Anchor Pensions has made a total payment of N881 million to 895 beneficiaries in 2021.
The Pension Fund Administrator (PFA) said a renewed commitment to service delivery has seen the company grow its profit after tax by 20 per cent from N29m in 2020 to N34m in 2021.
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The Managing Director/CEO of the PFA, Hamisu Idris, speaking on the 2021 audited report at the Annual General Meeting in Abuja on Tuesday, revealed that its external auditors and shareholders were on hand to approve and adopt the audited report.
The company paid out N6.40 billion in various benefits to over 7,248 contributors, since its inception in 2006.
The payments covered arrears, programmed withdrawal to 118 retirees, N200m as death benefits to 71 beneficiaries, N29m to 114 beneficiaries and N132m paid as temporary access (25%) payment to 518 contributors for loss of jobs.
“We have a chance to increase our client base through our trusted values of friendliness, innovation and responsiveness, which culminates into an excellent experience for our esteemed clients,” he said.
On innovations, Idris said the company is also leveraging technology that will make future “transactions contactless.”
The company chairman, Ibrahim Aliyu, said with the introduction of the non-interest funds by the regulatory authorities, the company has implemented the Non-Interest Fund in its operations for those interested.
He said the company closed the year 2021, with N120bn as Asset Under Management, from N103bn recorded in December 2020.
The Group Managing Director, Norrenberger Financial Group, Mr Tony Edeh, expressed optimism that Norrenberger Pensions Limited is now well positioned to evolve into a top tier PFA in the near future.