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Radix Pension grows RSA by 450% in one year

Radix Pension grows RSA by 450% in one year

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Radix Pension Managers, one of the Pension Fund Administrators (PFA), has grown its Retirement Savings Account (RSA) from 4000 to 22,000 in one year of operation under a new Board and Management. This represents 450 per cent growth in the company’s RSA holders.

Its Managing Director, Kunle Adeboye, told The Nation, that the company, formerly trading as IGI Pension Fund Managers Limited and launched in October 2017, plans to close this year with a better outlook.

He said the company is focused on providing good returns on investment and ensuring maximum safety of the fund under its management in line with regulations of the National Pension Commission (PenCom).

He said the company has been able to manage and invest both its RSA and Retiree Funds properly, such that its unit price has been growing steadily on a monthly basis.

He stressed that the unit price of the company has been on the top table of unit prices of PFAs out of the 21 existing PFAs since it commenced business a year ago,  hovering mostly between first and second, and in a few times up to seventh position, adding that the firm is working to be one of the top players in the pension space.

He said: “In the industry there are two things that are important to all stakeholders: the safety of pension assets and the return on investment. For us at Radix, we are assuring our customers and potential clients of good return on investment and safety of funds alongside best-in-class customer services – dynamic and efficient administration of pension fund under management, prompt pension payments and excellent pension advisory.

“We are doing a lot of things differently because we are a young and dynamic PFA. In one year of our operation, we have been able to grow our RSAs significantly. This is because we have people that have the experience and passion for the job. They have an understanding of why we are here, the kind of services we are rendering and the relevance of the service. We are talking about people’s future and joining them in planning for a better future. We have a brand itself that speaks to the youths in terms of most of the things that we do. We do a lot of online and social media sensitisation and so all of these and many more put together have been assisting us to grow.

“In terms of customer service, we are trying our best as much as possible. We have 24-hour service driven by our ICT capability, and this makes us to be more efficient. In today’s world, most people have access to phone and email. They are more aware through social media. We have the mobile app; these things were not there before the acquisition. But with the acquisition by Radix Capital Partners so many changes have occurred in the company.

“We are trying to ensure that customers get direct access to their RSA details in real time, so when you talk about complaints or enquiries, we treat them within the shortest possible time.”

He noted that the Radix brand has over the years undertaken a number of investment banking activities, ranging from business and financial advisory services, issuing house activities, asset management, trusteeship, and now pension fund administration.

“The company has over time built a solid relationship with the entire investment community, comprising banks, PFAs, insurance companies, asset management companies and high net-worth individuals. Radix Capital Partners seeks to further deepen its asset management services by participating fully in the management of pension assets,” he added.

 

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