CrusaderSterling Advises Pension Contributors to Choose PFAs Wisely

Dike Onwuamaeze

CrusaderSterling Pensions Limited (CPL) has advised pension contributors to choose their Pension Fund Administrators (PFAs) wisely in order to achieve maximum investments yields on their Retirement Saving Accounts (RSA) upon retirement. 

The company gave this advice during its 15th stakeholder’s forum that was held recently at the Lagos Airport Hotel, Ikeja, where contributors were also admonished to desist from maintaining more than one RSA to avoid complications while assessing retirement benefits.

The Managing Director/Chief Executive Officer of CPL, Mr. Rotimi Adebiyi, stated that the forum was meant to provide further information to clients on recent industry updates like the ongoing data recapture exercise, use of pension contributions for mortgage financing, etc.

Adebiyi also urged participants to embrace electronic upload of pension remittances and schedules “via the Electronic Pension Contribution Collection System (EPCCOS) and to avoid paying through any e-payment channel that could not upload their schedule of contribution.

Speaking during the forum, the Executive Director, Operations of CPL, Mr. Olufemi Odukoya, urged contributors to choose their PFAs wisely and advised employers to remit their employees’ contribution seven days after payment of salaries to enhance good returns on their pension investments.

Speaking in the same vein, the CPL’s Executive Director, Business Development, Mr. Femi Dada, said that CPL is distinguished in the market by its superior return on investment and has consistently led the industry in fund price. 

Dada stated that the CPL brand has led the industry’s fund price table consistently for more than a decade. He said: “Our RSA Fund II price was N7.0507 as at May 15, 2023, returning over 605 per cent, which is the highest in the industry on time adjusted basis.

The Managing Director of First Pension Custodian Nigeria Limited (FPCNL), Mr. Oloruntimilehin George, who was represented by the Head, Business Development and Client Services of FPCNL, Mr. Akin Denton, also enjoined organisations to use online payment platforms that are designed for pension remittance, which could capture their schedule of contribution.