TheCable

NLPC Pension Fund Administrator (NLPC PFA) Limited says it will continue to leverage technology to achieve sustainable returns and improved service delivery.

Samuel Abolarin, managing director/chief executive officer (CEO) of NLPC PFA, said this at a recent media briefing in Lagos, alongside Seun Babalola, executive director, operations and Remi Lateef, executive director, finance.

Abolarin said the company with assets under management (AUM) worth N388 billion as at April 2022 and working to position itself for greater market share.

“Our mission is securing a brighter future for workers by ensuring a steady stream of income at retirement through efficient and safe management of their pension savings, employing and motivating the right people using appropriate technology for excellent service delivery,” Abolarin said.

“We are currently on number five in Fund II at the end of the first quarter of 2022, and we want to move from number five to be among the top two in Fund II over the next three years.”

“Our return on investment till date is over 400 per cent.”

Abolarin added that the PFA had been able to overcome the drop in the rate of returns on bonds in 2021, which was a result of the Central Bank of Nigeria (CBN) policy.

According to him, the company has started to achieve stability, moving on the table from 21st position to 10th, with returns on investment coming back stronger again.

On his part, Babalola said the company has three core principles – integrity, expertise and experience – emphasising that the company is one of the largest PFAs in Nigeria with a strong branch network.

He said the company has offices nationwide, four branches and sixteen service centres, including one in Maiduguri, Borno state.

“Our operational base is about 400,000 customers cut across the public and private sector. On the good note, we have also recapitalised in line with the National Pension Commission (PenCom) guidelines,” he said.

NLPC PFA was incorporated in January 2005 and licensed by the National Pension Commission (PenCom) on January 25, 2006, to administer pension funds in line with the provisions of the Pension Reform Act 2004, now amended to Pension Reform Act 2014.