OAK Pensions target grassroots consumers in push to expand market share
In a bid to capture a larger share of the mass market in its segment, OAK Pensions Limited has said it will continue to make pension more accessible to the grassroots, as this will enable the formal and informal workers plan for their financial future.
The Chairman of the company, Dr. Awa Ibraheem, said this while presenting the 2018 financial result of the company during its 13th annual general meeting (AGM) in Lagos.
He said: “We are making pension more accessible to all workers and those at the grassroots. We are interested in the micro pension scheme, which was designed to ensure pension services get to the grassroots. The scheme is an attempt by the regulatory authority to ensure pension is less elitist.”
The chairman said the company would continue to ensure excellence in service delivery, ensure prompt payment of retirement benefits and leverage on technology.
He said that it was cogent for people to start preparing for pensions early in life, so as to have a comfortable future.
Ibraheem said the company had continued to organise fora for its contributors in the country, where they are able to relate with the company, and are enlightened on the benefits of the scheme, as well as the retirement options.
He said that since inception, the Contributory Pensions Scheme had increased, and as people saw more benefits in it, they would embrace the scheme.
The Managing Director of the company, Samuel Inyang, disclosed that the company’s assets under management rose by 19 per cent in 2018. He said the company was uniquely positioned to offer pension with complimentary integrated solutions that promotes financial security for the future, build loyalty and locked-in long-term relationship.
“We will be defending our market share with superior fund performance, exceptional service delivery across all customer touch points, and remain proactive in engaging and ensuring that RSA members and institutional clients expectations are not only met but exceeded,” he said.
He noted that the company would procure relevant ICT equipment and software to support its operations and improve its performance.
“We will optimise our social media handles and other communication channels to enhance information dissemination to both our internal and external customers; and enhancement of our e-channels for improved service delivery to our customers,” he explained.
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