From right: Mr Glory Etaduovie ,Managing Director, Senator Rufai Hanga, Chairman and Mrs Femi Onoru ,Company Secretary, all of IEI -Anchor Pension Managers at it’s Annual

By Ngozi Onyeakusi— IEI Anchor Pension, a frontline pension fund administrator in the country has recorded an improved performance for the 2020 financial year as its Asset under Management increased to N103.04billion.

The firm equally ended the year with increase in its profit before tax to the tune of 104 per cent.

Addressing shareholders at the firms 9th Annual General Meeting in Abuja, the Chairman of the company, Senator Rufai Hanga, noted that despite challenges in operating environment accasioned by COVID-19 pandemic, IEI Anchor Pension remained strong given its robust ICT infrastructure .

“In the face of turbulence, your company remained unwavering in its operations by leveraging fully on the company’s robust ICT Infrastructure.
We were able to close the year at N103.04billion and by the year’s end recorded 104% increase in our profit before tax.
We have set focus on our mission of helping our clients to protect and grow their pension assets. This is achieved through competitive investments at minimal risks.
Ealier in his speech, Managing Director/CEO, Glory Etaduovie stated that the firm maintained the number of branches and Service centres as cost-saving measures which according to him did not hamper the company’s business drive.
He noted that the Company generated 7,753 RSA PINs in the year, making a total of 138,195 RSA PINs. “We have 55% funding overall. This is a source of concern, though inevitable sometimes due to losing jobs or double RSA PINs. We are working on improving the situation”, he assured.
He equally stated that nvestment department also worked hard to optimize the funds available for investment. “We were placed 3rd, 5th, 13th and 13th positions out of the20 PFAs in the four funds approved for the RSA”, he acclaimed .