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CrusaderSterling Pensions pays N137bn benefits

 

CrusaderSterling Pensions Limited has disclosed that it settled N137bn as benefits contributors and retirees.

The pension fund administrator said the settlements range from lump sum, death benefits, Enbloc, loss of job, equity release via mortgages, and other approved PenCom-regulated benefit payments, from its inception in 2004 till date.

This was disclosed at its 13th Annual Stakeholders Forum held in Lagos recently, which was largely attended by workers and retirees under the Contributory Pension Scheme.

The Managing Director/Chief Executive Officer of CrusaderSterling Pensions, Mr Rotimi Adebiyi, during the event, said the comfort of its retirees remained a priority for the PFA.

Adebiyi averred that the PFA would continue to align itself with the objectives of the Pension Reform Act of 2004, particularly in assisting individuals by ensuring that they save to cater to their livelihood during old age, thereby reducing old-age poverty.

He said, “The enactment of the Pension Reform Act 2004 brought about a new era of relief from these challenges through the establishment of the Contributory Pension Scheme supervised by the National Pension Commission.

“We give kudos to former President Obasanjo’s government, which brought about the CPS. Since we kicked off on October 12, 2004, we have achieved a whole lot. We have settled N137bn as benefits payments, ranging from lump sum, death benefits, en bloc, loss of job, equity release via mortgages, and other approved PenCom regulated benefit payments.”

The participants were taught how to save and invest for retirement, as well as how to write a will.

The CrusaderSterling Pensions Annual Stakeholders Forum is a flagship event held annually to convene customers, pensions desk officers, and other key stakeholders of the business.

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