BY NKECHI NAECHE- ESEZOBOR—-Stanbic IBTC Pension Managers, Nigeria’s leading pension fund administrator (PFA) has successfully paid N1.6billion to 150 customers who have applied to access 25 percent of their pension savings as equity contributions for a residential mortgage.
This is in line with the Guidelines on accessing RSA Balance towards Payment of Equity Contributions for Residential Mortgage for RSA Holders released by the National Pension Commission (PenCom) in September 2022.
The arrangement is designed to facilitate home ownership by RSA holders, deepen the mortgage sector through the provision of sustainable long-term finance, and spur socio-economic development by narrowing the nation’s lingering housing deficit.
Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers said “as an organization, one of our main objectives is to ensure that our clients retire well, which aligns with enabling our customers to become homeowners. We leverage customer data and insights which help us to be proactive in meeting their needs. Our team works diligently to ensure that our clients can access a portion of their pension savings as equity contribution towards residential mortgage applications, if they meet the required conditions as prescribed by PenCom.”
This achievement comes on the heels of steady growth in assets under management (AUM) and a customer base of over two (2) million customers as at end of June 2023, thereby positioning the organization as a leading PFA delivering long term competitive returns across its various funds. The recent addition of Experience Centres across major cities is also aiding its commitment to the excellent service delivery to clients. This is in addition to various upgrades to its digital touchpoints such as its mobile app and multilingual call centre.
Also Read: Stanbic IBTC Pension Managers Partners With Employers To Ensure Secured Retirement
Oyetan further commented that customers who opt for additional voluntary contributions towards retirement through the Voluntary Contribution option are able to access even more funds to meet their objective when securing their dream homes. Customers can visit the Pension module of the Stanbic IBTC Mobile App or the Stanbic IBTC Pension Managers website to learn more about the application requirements or get other information on the application process. The company’s 24/7 multi-lingual call centre, thirty-nine (39) locations nationwide and Stanbic IBTC Bank branches are also available to customers who want to speak to a staff for further guidance.
Stanbic IBTC Pension Managers believes in empowering its customers with the knowledge and tools they need to achieve their retirement goals. One way the organization enables its customers to achieve their objective of financing their dream home is by supporting the access of up to 25 percent of their RSA contributions as equity to purchase a home under a mortgage scheme.
To enhance customer experience, the organization further provides client-focused engagements like financial fitness sessions, pre-retirement seminars and dedicated employer engagements in various cities across the country. These initiatives offer our customers the avenue to meet representatives of the organization, get industry and regulatory updates, learn about employee management and pre-retirement financial planning. These opportunities are geared towards helping clients build long-term sustainable wealth and retire comfortably.
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