Lagos: The Managing Director of Citizens Pensions Ltd., Helen Da-Souza, has emphasized the necessity of comprehensive education to help citizens understand their pension contributions and dispel misconceptions. Da-Souza made this assertion during the launch event of Citizens Pensions Ltd. in Lagos.
According to News Agency of Nigeria, Da-Souza highlighted the importance of pension plans in safeguarding the quality of life and health in advanced age by providing a stable and dependable income source post-retirement. She pointed out that many individuals lack adequate knowledge about pensions, merely making contributions without understanding the full scope.
Da-Souza outlined that Citizens Pensions Ltd. aims to set itself apart in Nigeria’s pension industry by utilizing technology to reach the informal sector and effectively educate contributors. The company is committed to becoming a household name by offering exceptional customer service and ensuring secure fund management. It plans to tackle issues such as incorrect configurations or changed phone numbers that may lead to confusion.
Citizens Pensions intends to actively engage with customers and potential contributors through various market interactions, including business visits and collaboration with professional associations. This strategy is designed to expand their customer base and enhance pension awareness. The company will work closely with customers from their first income to retirement, offering personalized service and support.
Da-Souza also acknowledged the crucial role of the informal sector in driving Nigeria’s economy, contributing significantly to the nation’s GDP and sustaining the livelihoods of millions. Citizens Pensions aims to directly address barriers faced by informal-sector workers, providing a structured, accessible, and user-friendly platform tailored to their needs.
Technology in pension management was another focal point for Da-Souza, who assured that Citizens Pensions would harness technological advancements to streamline processes, enhance the customer journey, and ensure transparency.
Chukwuka Onwuchekwa, Chairman of Citizens Pensions, stated that the firm is entering the industry with a mission to provide retirement solutions that empower both individuals and institutions to achieve long-term financial goals. He emphasized the importance of innovation adapted to local realities and called for collaboration to transform the pension system.
In his statement, Onwuchekwa invited collaboration from regulators, financial institutions, employers, and employees to build an inclusive, efficient, and sustainable pension system. He also expressed gratitude to the National Pension Commission (PenCom) for their dedication to the growth and stability of Nigeria’s pension sector.