Legacy Pension pays N18.25b to clients

THE Chairman of Legacy Pension Management Ltd, Lamis Shehu Dikko has said that despite the difficulties the private and public enterprises are presently facing, his organization has so far made benefit payout of over N18.25 billion to its 7.542 clients even as it currently has 2.947 pensioners on regular programmed withdrawal payments.

Legacy Pension Managers limited is one of the nation’s leading pension fund administrators presently operating in all the 36 states and the Federal Capital Territory.

DIkko also announced a N630.568 million profit after tax for year ended 2014 as against the N454,140 million recorded in year 2013 even as he disclosed that the company’s dividend per share rose from 14 kobo in 2013 to 50 kobo in 2014, representing 25 percent increase. The Chairman gave the details in his address to the 7th Annual General Meeting [AGM] held in Abuja yesterday.

On the company side,,LamisDikko explained ‘’Our Shareholders Funds increased by N520.144 million or 29.48 percent to N2.285 billion’’ adding that, to retain the value of the company’s capital, it has in the course of the year, acquired a building to serve as its corporate Head Office in the heart of the federal capital territory.

He noted that the pension industry has come of age and a decade long commitment is gradually paying off ‘’The passing into law of the Pension Reform Act, 2014 was a milestone for the Industry which currently boasts of about 6 million contributors with an asset base in the region of N4.6 trillion, the passage of the PRA 2014 is expected to spiral the enlistment of the informal sector into the contributory Pension Scheme’’.

He said he has no doubt that the National Pension Commission is poised to continually ensure the integrity of the scheme and the confidence reposed on it by contributors through its risk-based approach supervision.

He itemized the challenges before the Pension industry to include, bringing on stream the huge labour force in the informal sector, enforcing compliance with the provisions of the Pension Reform Act of 2014 with regards to increase in the rates of contributors from 15 percent to 18 percent, opening up of more investment outlets and products that would cascade into infrastructural development, as well as ensuring the up-coming transfer of RSAs is seamless among others.

In his remarks, the Managing Director of Legacy Pension Ltd, MisbahuYola said that the growth recorded in the period under review is evident in the returns the company has nade in the various funds under its management.

‘’Retirement Savings Account [RSA], net assets value per unit price increased from 2,2557 in 2013 to 2,4340 as at the end of 2014 which represents return of 8 percent’’. has said that despite the difficulties the private and public enterprises are presently facing, his organization has so far made benefit payout of over N18.25 billion to its 7.542 clients even as it currently has 2.947 pensioners on regular programmed withdrawal payments.

Legacy Pension Managers limited is one of the nation’s leading pension fund administrators presently operating in all the 36 states and the Federal Capital Territory.

DIkko also announced a N630.568 million profit after tax for year ended 2014 as against the N454,140 million recorded in year 2013 even as he disclosed that the company’s dividend per share rose from 14 kobo in 2013 to 50 kobo in 2014, representing 25 percent increase.

The Chairman gave the details in his address to the 7th Annual General Meeting [AGM] held in Abuja yesterday.

On the company side,,LamisDikko explained ‘’Our Shareholders Funds increased by N520.144 million or 29.48 percent to N2.285 billion’’ adding that, to retain the value of the company’s capital, it has in the course of the year, acquired a building to serve as its corporate Head Office in the heart of the federal capital territory.

He noted that the pension industry has come of age and a decade long commitment is gradually paying off ‘’The passing into law of the Pension Reform Act, 2014 was a milestone for the Industry which currently boasts of about 6 million contributors with an asset base in the region of N4.6 trillion, the passage of the PRA 2014 is expected to spiral the enlistment of the informal sector into the contributory Pension Scheme’’.

He said he has no doubt that the National Pension Commission is poised to continually ensure the integrity of the scheme and the confidence reposed on it by contributors through its risk-based approach supervision.

He itemized the challenges before the Pension industry to include, bringing on stream the huge labour force in the informal sector, enforcing compliance with the provisions of the Pension Reform Act of 2014 with regards to increase in the rates of contributors from 15 percent to 18 percent, opening up of more investment outlets and products that would cascade into infrastructural development, as well as ensuring the up-coming transfer of RSAs is seamless among others.

In his remarks, the Managing Director of Legacy Pension Ltd, MisbahuYola said that the growth recorded in the period under review is evident in the returns the company has nade in the various funds under its management.

‘’Retirement Savings Account [RSA], net assets value per unit price increased from 2,2557 in 2013 to 2,4340 as at the end of 2014 which represents return of 8 percent’’.