Pal Pensions launches Fund VI to diversify investment options
Pal Pensions, a top-tier pension fund administrator in Nigeria on Thursday, launched Fund VI – its sixth investment funds for its Retirement Savings Account (RSA) holders in a bid to diversify its customers’ investment options.
Fund VI is part of the multi-fund structure, a framework that aligns the age and risk profile of RSA holders with multiple fund types designed to cater to various investor requirements. The multi-fund structure, especially with the addition of the new fund also seeks to enable contributors to have better participation in the management of their funds.
The launch of Fund VI signals PAL Pensions’ commitment to promoting innovation, improving customer experience, and demonstrating industry best practices.
Fund VI is a non-interest Fund regulated by the National Pension Commission (PenCom) for contributors who want their funds to be invested in non-interest bearing and ethical instruments.
Funso Doherty, the managing director of Pal Pensions, said the company is a firm believer in value creation for its stakeholders, especially its customers. “At PAL Pensions, we firmly believe in the importance of delivering a top-tier experience to our customers through the deliberate pursuit of investment and operational excellence,” said Doherty.
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According to him, the recent launch of Fund VI is an example of such; leveraging cutting-edge technology, and several digital channels to facilitate an optimal experience and ease of access for its clients.
He states further that PenCom regulations ensure that Fund VI is carefully managed and invested to prevent destruction or loss. On this, the PAL Pensions boss stated that prudent management aligns perfectly with PAL’s investment philosophy.
“Our Investment Philosophy is premised on reliably providing our customers with secure funds post-retirement, to help them enjoy a decent standard of living. PAL ensures that contributions are well managed and grown to achieve a competitive rate of return in the medium to long term. We are always mindful of the risk tolerance of Pension Funds, and I believe this is one of the many reasons why RSA holders should switch to PAL,” Doherty said.
PAL Pensions has several digital channels to ease the pension experiences of its customers. Some of the products include the PAL Padi – a digital buddy considered one of the leaders in the industry that can handle all pension-related concerns via SMS, Telegram, or WhatsApp; and a mobile app customized to monitor and manage customers’ pension accounts on the go, amongst others.
With over 16 years of professional experience in Pension Funds Administration, PAL Pensions manages and administers retirement savings contributions of employees in Nigeria and boasts of a client base of over 550,000. Pal Pension combines its deep institutional knowledge of the pension industry with a drive for innovative and stellar customer service within existing regulatory and operational frameworks.
This post was written by Seyi John Salau and was first published at businessday.ng