Updated: Premium Pension holds 16th Annual General Meeting
Premium Pension Limited recently held it’s 16th Annual General Meeting (AGM) virtually where the company’s financial position for the period ended December 31, 2020 was presented to the shareholders.
The Pension Fund Administrator (PFA) continues to impress in its performance, maintaining an enviable position, despite, the economic challenges due to the outbreak of COVID-19 last year.
The company’s performance showed that its Assets Under Management (AUM) during the period under review (2020) grew by N83.14 billion to N787.80 billion from N704.66 billion recorded in the same period of 2019. This represented a year-on-year growth rate of 11.79 per cent.
Speaking at the 16th AGM of the company held virtually last week, its chairman, Mr. Ibrahim Alhassan Babayo, said the company also maintained its lead in terms of unit value in the oldest funds i.e. Fund II (5.3376) and Fund III (1.3587) in the Nigerian pension industry. This leading performance, he said, also reflected in the Approved Existing Scheme (AES) which the company jointly manages with other PFAs.
He also stated that the number of RSAs registered by Premium Pension in both the public and private sectors organisations as well as micro pension as at 31st December 2020 rose to 730,146 in the course of the year 2020.
To him, “the long-awaited transfer window was officially launched on November 16th, 2020, shifting power to the contributors as they now have the opportunity to switch from one PFA to another. The opportunities to move when dissatisfied have an implication on Assets under Management (AUM).”
He was glad to report to shareholders that Premium Pension Limited was a net gainer during the maiden transfer window quarter.
Despite the volatile economic environment, Babayo was pleased to recommend a final dividend of N1.25 per share to bring the total dividend payment within the year to N2.25 per share.
In his remark, the managing director, Mr. Umar Sanda Mairami, expressed appreciation to the board for their untiring support towards uplifting performance geared at building a robust PFA. He further assured that the firm will be consistent in offering premium experience to its members.
