OAK Pension Grows Profit by 65%

OAK Pensions Limited said it grew its profit by 65.8 per cent, from N230.88 million in 2016, to N382.8 million in its 2017 financial year.

The Chairman of the company, Dr. Awa Ibraheem, disclosed this during the company’s 12th annual general meeting in Lagos.

While expressing OAK Pension’s commitment to serving its contributors and retirees, Ibraheem, said the company will continue to give them better returns on investment.

“Our duty is to manage the funds on behalf of the retirees and ensures the funds grow so that when they retire, they benefit more than what they contributed. Our retirees are happy with us with the rate of return on investment.”

He said that OAK Pensions tries to balance return with risk, by making sure that the interest of its retirees are well protected, and balancing the high returns with low risk.

To get closer to its stakeholders, he said that the company had extended its call centers so that its interaction with retirees will be more efficient and effective.

“We have also gone far by improving on our ICT, we have completely computerised now, and on the feedback we are getting from retirees, it is much easier for them to be served than in the past,” he said.

While observing that most of the contributors of the Contributory Pension Scheme were from the government and private sector, he said that the informal sector were actually the drivers of the economy.

“What we are doing now is to expand our informal sector department, to provide them with more facilities,” he said

adding that the company was committed to protecting the financial future of the Nigerian workers and will continue to enlighten the informal sector on the need to key into the CPS.