Nike Popoola
Legacy Pension Managers Limited has stressed the need for students to be enlightened on the relevance of the Contributory Pension Scheme.
The company’s Zonal Manager in Lagos office, Mr. Adewale Fagbenro, said this when the Head, Department of Finance, University of Lagos, Prof. Rufus Olowe, led some final year students on an excursion to Legacy office in Ikoyi, Lagos.
He said, “Practical understanding of the Contributory Pension Scheme is necessary to complement the students’ knowledge on the study of pension.”
He explained the provisions of the Pension Reform Act 2014 and historical background to the CPS in Nigeria to the students.
According to him, knowledge of the objectives of the scheme, functions/roles of the National Pension Commission, Pension Fund Administrators and Pension Fund Custodians is essential to the students.
Fagbenro disclosed that in the last five years, Legacy Pension Retirement Savings Account fund recorded 12.50 per cent return on investment in 2016 while the retirees’ funds recorded 11.06 per cent return on investment for the same year.
“With about 50 branches and service centres spread across Nigeria and huge investment in the IT infrastructure, Legacy Pension is positioned to service its ever-increasing clients wherever they are,” he said.
Legacy mobile App, which would allow clients to access services on-the-go, had been introduced to the students, Fagbenro said.
While speaking on the choice of Legacy Pension for the visit, Olowe said it was occasioned by the recent activities of the PFA and professionalism exhibited by its personnel, coupled with its state of the art facilities.
He also said the visit to Legacy Pension was part of the collaboration and partnership between the department and Legacy Pension.
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