CrusaderSterling Pensions Delivers Impressive Returns to Customers

The CrusaderSterling Pensions Retiree fund achieved a total annual returns of 21.69 per cent as at December 31, 2017, the highest for the year in the retiree segment of the market. The fund is managed by CrusaderSterling Pensions Limited, which is a member of the Custodian and Allied Insurance Group Plc.

The National Pension Commission (PenCom) last December released the framework for the enhancement of the monthly pension payout to existing retirees who chose Programmed Withdrawal (PW) offered by Pension Fund Administrators (PFAs) as against annuity product offered by insurance companies.

The objective of the framework is to provide modalities for the implementation of periodic pension enhancement for retirees on PW under the Contributory Pension Scheme (CPS) by utilising the surpluses generated from Return on Investment (ROI).

It is this fund management impressive performance that has given advantage to over 2,000 retirees currently enjoying enhanced monthly pension payments under the CrusaderSterling Pension management. The company explained that the CrusaderSterling Pensions RSA fund, has maintained a leading position over the last eight years. In 2017, the RSA Fund returned the industry highest at 19.8 per cent and a cumulative of 290.9 per cent from inception as at 26th February, 2018, giving it a clear leading position in the industry. .Next in terms of performance are” Premium Pension Fund with a return of 280.1 per cent and ARM Pension Fund with a return of 279.7 per cent from inception.

Industry analysts said PenCom investment regulations strictly prescribe asset classes that PFAs could invest with the twin objective of achieving safety and security of pension funds.

According to operators, the onus of monitoring returns on investments resides more with the fund contributors than PENCOM. However, they said disappointedly, most contributors are passive and rarely follow up on performances of their PFAs and fund which is reflected through the fund prices.

PenCom said that the exercise would be reviewed on regular basis to ensure more retirees enjoy higher standard of living as their PFAs continue to record higher returns on investment.

The positive changes in the pension industry was brought about following the enactment of the Pension Reform Act 2004 that introduced a Contributory Pension System which transferred retirement risk and control to the employee. The major source of funds to the pension account are the employer contribution, the employee contribution and the returns generated by the PFA chosen by the employee to manage the fund.