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Fug Pensions Moves to Grow Market Share
[July 30, 2014]

Fug Pensions Moves to Grow Market Share


(AllAfrica Via Acquire Media NewsEdge) Future Unity Glanvills Pension Limited (FUG Pensions) intends to take advantage of the provisions of the new Pension Reform Act 2014 to deepen penetration and grow its market share, the company's Managing Director, Usman Suleiman, has said.



Suleiman informed journalists in Lagos that the Pension Fund Administrator (PFA) hopes to harness opportunities to be provided by the much awaited transfer window that would give contributors the freedom to choose the PFA of their choice.

He said the firm, in living up to its vision, which is to be a leading and most trusted name in pension management, has positioned itself by operating six fully regional offices located in Lagos, Port Harcourt, Ibadan, Abuja, Kano and Maiduguri. He added that the firm also has presence in 21 states and zonal offices spread across the country.


Usman said the company remains the only PFA with two simultaneous disaster recovery sites located in Lagos and Abuja, stressing that the firm's capital currently stands at an enviable level of N1.5 billion, a quantum leap from the statutory minimum requirement of N1 billion.

He also said the firm has been appointed in 11 out of the 15 states that have keyed into the contributory pension scheme, stressing that the firm is in two out of the three states considered best in pension contributions, and were recently given awards by President Goodluck Jonathan at the World Pension Summit in Abuja.

"In addition to the states, FUG Pensions is widely recognised in both public and private sectors. Our company is one of the PFAs managing Nigerian National Petroleum Corporation (NNPC) pension scheme, we are the lead PFA for the Federal Airports Authority of Nigeria and the Union Homes Plc Staff Legacy Pension Fund and the only PFA managing Unity Bank Plc staff Legacy Fund. We are also the only PFA that managed the ECOWAS Pension Scheme. With an annualised return on investment of over 12 per cent and a return of over 72 per cent in seven years of our existence, it is no surprise that more and more institutions are lining up to appoint FUG Pensions to manage their schemes," he said.

Copyright Daily Independent. Distributed by AllAfrica Global Media (allAfrica.com).

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