Wednesday, July 30, 2025
24.3 C
Lagos

Stanbic IBTC Pension Facilitates Home Ownership for RSA Holders

Stanbic IBTC Pension Managers, Nigeria’s leading pension fund administrator (PFA) based on the Q2 2023 report released by the National Pension Commission (PenCom), has successfully paid out ₦1.6 billion to one hundred and fifty (150) customers as at October 3, 2023, enabling them to become proud homeowners.

This occurred following the implementation of an approved guideline on accessing Retirement Savings Account (RSA) balance towards payment of equity contribution for residential mortgage by RSA holders released by the National Pension Commission (PenCom) on 23 September 2022.

Stanbic IBTC Pension Managers is enabling its customers to access up to 25 percent of their Retirement Savings Account (RSA) balance as equity contribution for residential mortgages, thereby living up to one of its core values of serving their clients. With this milestone, the PFA is actively closing the affordability gap in Nigeria’s mortgage sub-sector and improving the standards of living of its RSA holders.

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.

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.

spot_img
spot_img
spot_img

Hot this week

Sovereign Trust Insurance Reports 109% Insurance Revenue Growth in 2024

Sovereign Trust Insurance Plc recently released its 2024 audited...

NAICOM Issues Guidelines for Insurtech Operations Effective Aug 1

The National Insurance Commission (NAICOM) has officially issued operational...

Leadway Assurance: Official Insurance Partner of Lagos International Trade Fair 2025

L–R: Juliet Okon, Head, Alternative Channel and High Net-worth...

NNPCL: Port Harcourt Refinery Not for Sale

Group CEO, NNPC Limited, Engr. Bashir Bayo Ojulari addressing...

Ecobank Earns Stable Outlook Ratings from Moody’s

Moody’s has affirmed Ecobank Transnational Incorporated’s (ETI) B3/Not Prime...

Topics

GT Bank Appoints Osaretin Demuren as New Chairman

Guaranty Trust Bank Plc has announced the appointment of Mrs. Osaretin Afusat Demuren as the New and 6th Chairman of its Board of Directors, at the 25th Annual General Meeting of the Bank which held on Tuesday March 31st, 2015 at Oriental Hotel, Lekki-Epe expressway, Lekki, Lagos. Demuren was presented to Shareholders as a replacement for the outgoing Chairman, Mr. Egbert Imomoh, who is retiring from the Board in compliance with the Bank’s Code of Corporate Governance, which stipulates a retirement age of 70 years for Non-Executive Directors of the Bank.

Interswitch Recognised as Leading Company in Diversity, Equity, Inclusion

L-R; Chinenye Tony-Chidolue, Organizational Development Manager, Interswitch and Michael...

Allianz Acquires 66% Equity in Jubilee Insurance of Uganda

Allianz, one of the world’s leading insurers and...

Global Airlines Financial Monitor: September 2018

The final Q2 2018 airline financial data confirm...

Govt, Telecoms Top Targeted Sectors for Cyber Attacks

In East Africa, governments are the top target sector...

TECNO Wins AITTA Phone of the Year 2019 Award

TECNO SPARK 3, a smartphone model by TECNO, a...

SMILE, First to Launch 4G LTE, VoLTE in Nigeria

Smile Nigeria, acclaimed as the leading second-tier telecom operator...

Linkage Assurance CEO among Top 25 Capital Market Performers in 2017

L-R: Mr. Abimbola Ogunbanjo, President of the Nigerian Stock Exchange(NSE)...
spot_img

Related Articles

Popular Categories

spot_imgspot_img