Leading Pension Funds Administrator, Premium Pension Limited between November 6 and 10, 2017 marked its Compliance and Ethics Week in line with the Global Compliance and Ethics Week being celebrated this year with the theme: “Make the Right Choices”.
The company said it was keying into this global yearly event for the second time running in appreciation of its invaluable significance to its operations.
“As a leading operator in the Industry, all hands must be on deck to support the culture of compliance which will not only distinguish us among our peers but also reflect on our profitability” said Kabir Tijjani, Executive Director in the company while flagging off the event. “Premium Pension Limited has grown to a level where ethical principles are becoming part of our culture and the sustenance of this great value is a function of the extent to which each and every staff of the Company can embrace the attitude of doing things the right way and making the right choices at all times.”
He further stated that it is through demonstrable professionalism, high ethical standards and adherence to global best practice that the company has witnessed tremendous growth and won several local and international awards. “The choices we make in life have a significant impact on the results or outcomes we get”, he said. “Making a right choice today will result in having a fulfilled future tomorrow.”
“Compliance is a culture which infers the willingness to do things right, according to the requirements of the law” said Funmi Femi-Obalemo, the Company’s Chief Compliance Officer. “However, ethics goes further to emphasize the importance of distinguishing between good and evil, right and wrong, and between virtuous and non-virtuous actions or inactions.”
She pointed out that by hallmarking ethics and compliance, Premium Pension Limited (PPL), strives to fulfil her vision of being a leading Pension Fund Administrator and a global player. This, she says can only be achieved by doing business not just to comply with laws and regulations, but ethically.
The Nigerian pension industry operates under necessary safeguards and is conscious of the rising global concern about compliance. This is basically as a result of the rise in corporate corruption and increasing stringent legal requirements for business operations. Also, the liquidation of several big organizations around the world and some distressed financial institutions in Nigeria over the years have underscored the importance of compliance in any successful enterprise. The main objective of compliance in the Nigerian Pension Industry is making sure that the system is effective and efficient through ensuring adherence to rules and regulations aimed at providing sustainable pension to the deserving retired employees.
Premium Pension Limited is one of the pioneer and leading PFAs in the country registered after the enactment of the Pension Reform Act of 2004. The company has recorded a string of successes since then and now has Assets Under Management in excess of five hundred billion naira with more than 758,000 Retirement Savings Account (RSA) holders. The company has since inception paid out more than 137 billion naira to retirees and other RSA holders.