A Super PFA is Coming
There have been information going round in the Pension Industry that some Pension Fund Administrators (PFAs) are planning to merger to create a new largest PFA in Nigeria and top on the list of those involved is Premium Pension. The new largest PFA once created is expected to change the game play in the pension industry and render exceptional services to customers.
A review of the total Retirement Savings Account (RSA) per PFA shows that Stanbic has about 2 million RSAs, Access Pension has 1 million, ARM Pension has 896k, Trustfund has 801k and Premium PFA has 778k. For the new combined PFAs to become the largest PFA in Nigeria Premium Pension will have to merger with at least 2 Top PFAs or 4 to 5 small PFAs.
To set the records straight and avoid misinformation, Premium Pension has released a statement on the alleged business merger or combination.
Extracts from Statement released by Premium Pension
“It has come to our attention that there are several rumours and misinformation in circulation regarding a possible business combination between Premium Pension Limited and another Pension Fund Administrator. We would like to assure you that the interest of our customers remains our top priority in any decision we make. With over N1 trillion in Assets Under Management (AUM) and a track record of consistent above industry average investment performance and growth, our fundamentals and projections remain very strong.”
“Any consideration around our future growth plans will be in line with our aspirations and shall take into account the interest of our stakeholders. While discussions are ongoing, no definitive Agreement has been reached yet and due processes are being followed. The proposed combination, if it materlalizes, is aimed at bolstering our market position and deepening our pension services so that we can serve you better.“
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