Leadway Pensure Pays N140bn to 76,000 Retirees as  Retirement Benefits 

Ebere Nwoji

Leadway Pensure, has announced that it has paid over N140 billion as retirement and terminal benefits to over 76,000 retired workers who has been saving into the Contributory Pension Scheme(CPS).

Team Leader Customer Relationship Management Department of Leadway Pensure, Mr Kelechi Uche stated this at a training organised by Leadway Group for members of the Nigerian Association of Insurance and Pension Editors (NAIPE)  in Lagos.

Uche said Leadway Pensure has shareholders funds in excess of N8.6 billion, against N5 billion required by the National Pension Commission (PenCom).

He stated that the assets under management of the company was  N780 billion. 

According to him, Leadway Pensure was formed by a consortium of three finance service organisations namely; Leadway Holdings Limited., MBC Securities and Prestige Assurance Plc.

He noted that in terms of quality assurance, PenCom had adjudged Leadway Pensure as one of the best in the industry, which signifies its quality service delivery and best in class corporate governance. 

Speaking on the 25 per cent Retirement Savings Accounts (RSA) balance for mortgage approved by PenCom, Uche stated that Leadway was committed to providing financial support for its RSA holders to access the fund and become house owners before retirement. 

He noted that RSA holders must however meet the conditions and guidelines stipulated by PenCom to access the fund.

“Some of the conditions are that; the RSA of the applicant shall have both employer and employee’s mandatory contributions for a cumulative minimum period of 60 months. An offer letter for the property duly signed by the property owner and verified by the mortgage lender. The application for equity contribution for residential mortgage shall be in person and not by proxy, among others,” he said.