By Vivian Ihechu

The Managing Director of Citizens Pensions Ltd., Helen Da-Souza, has highlighted the need for in-depth education to ensure citizens understand their pension contributions and avoid misconceptions.

Da-Souza said this at the unveiling of Citizens Pensions Ltd. in Lagos on Tuesday.

She emphasised that the pension plan was essential to safeguard the quality of life and health at an advanced age as it provided a stable and dependable source of income after retirement.

According to her, many people are not well educated about pensions, saying they just make contributions.

“In educating people, we are going to embark on in-depth education of citizens of Nigeria, and that’s why we are here.’’

De Souza explained that Citizens Pensions Ltd., aimed to distinguish itself in Nigeria’s pension industry by leveraging technology to reach the informal sector and educate contributors more effectively.

“The company plans to stand out as a household name by providing exceptional customer service and ensuring funds are securely managed.

“They will address issues like incorrect configurations or changed phone numbers that may cause confusion.

“Citizens Pensions will actively engage with customers and potential contributors through various market interactions, including visits to businesses and professional associations, to expand their customer base and improve pension awareness.

“We will work closely with customers from their first income to retirement, providing personalised service and support.’’

The approach includes extensive market engagement to ensure comprehensive coverage and education of potential pension contributors.

Da Souza noted the vital role the informal sector plays in driving the economy.

“The informal sector is the heartbeat of Nigeria’s economy as it contributes significantly to the nation’s GDP which sustains the livelihoods of millions across the country.

“Citizens Pensions will directly address these barriers, providing a structured, accessible, and user-friendly platform that accommodates the realities of informal-sector workers.’’

She also emphasised the importance of technology in pension management, assuring that the company would harness the power of technology to streamline processes, enhance the customer journey, and ensure absolute transparency.

The Chairman of Citizens Pensions, Chukwuka Onwuchekwa, said the firm was stepping into the space with a clear mission to provide retirement solutions that empower individuals and institutions to achieve their long-term financial goals.

According to him, this will ensure a comfortable and dignified retirement for all.

“At Citizens Pensions, we are inspired by these advancements. But inspiration alone is not enough. We understand that innovation must be adapted to local realities.

“Nigeria, with its dynamic population and unique challenges, presents an incredible opportunity to leapfrog traditional models and embrace a future where pensions are not just an obligation but a cornerstone of financial empowerment”.

Onwuchekwa called for collaboration to transform the pension system.

“But let us be clear: building a transformative pension system is not a solo endeavour.

“As we begin this journey, we invite collaboration. From regulators to financial institutions, from employers to employees, we must work together to create a system that is inclusive, efficient, and sustainable’’.

He thanked the National Pension Commission (PenCom) for their dedication to the growth and stability of Nigeria’s pension sector. (NAN) (www.nannews.ng)

Edited by Oluwafunke Ishola