pension fund administrator – Oak Pension

The Role of a Pension Fund Administrator
In the intricate world of retirement planning, a Pension Fund Administrator (PFA) is a key player that often goes unsung. This article sheds light on the critical role of a Pension Fund Administrator, explaining their significance in managing your retirement funds and helping you secure a comfortable post-work life.

Who are Pension Fund Administrators (PFAs)

A Pension Fund Administrator like OAK Pensions is a financial institution duly licensed and regulated to manage the retirement savings accounts of individuals participating in a contributory pension scheme. In Nigeria where the Contributory Pension Scheme (CPS) is in place, the PFA is a pivotal entity responsible for the management and growth of the funds accumulated in the Pension Savings Account.

A few responsibilities of OAK Pensions as your Pension Fund Administrator

Account Management: One of the core duties of OAK Pensions is to manage and oversee the contributions made by employees and their employers to the Pension Savings Account. We maintain these accounts, track contributions, and ensure they adhere to regulatory guidelines.

Investment Management: We play a crucial role in investing the funds accumulated in Pension Savings Accounts. We strategically allocate these funds across various financial instruments, such as stocks, bonds, and other investment options, with the goal of achieving optimal growth over the long term.

Fund Performance: Monitoring and assessing the performance of your invested funds is a critical responsibility. That is why we ensure that the funds are meeting the expected growth targets and manage any underperforming assets accordingly.

Choosing us is a pivotal step in your retirement planning journey. Our reputation, track record, and expertise has never been doubted since inception. Additionally, our customer service quality is of the highest standard giving you peace of mind that your investments are in safe and quality hands.