Radix Pension sets sights on boosting market share

Cynthia Ezekwe

Radix Pension Managers, a Pension Fund Administrator (PFA) in Nigeria,  has disclosed  its target to be listed among the big ten  pension fund administrators in the next five years.

With assets under management totaling N20 billion and a contributor base of 49,000, Radix said it is now focused on expanding its market share by diversifying its client portfolio to include public sector entities and pioneering innovative solutions in the micro pension space.

Victor Bisong, Radix managing director, made the disclosure at the retirees’ forum organised by the company in Lagos. He noted that the pension fund administrator depends on corporate institutional clients, but has plans to include federal and state government workers as its contributors.

Bisong explained that the retirees’ forum was a programme where Radix management and staff engaged the retirees, made them happy and gave them a sense of belonging.

 “It is a platform created to hear from them, know their problems, make them happy and let them know we  are there for them. We want to know their needs and as PFA, know areas where we can come in through these programmes,”he  said.

The Radix MD also described pension as a “good but long term business” that requires patience, pointing out the need for retirees to follow regulations, noting that a retirement fund is not a free fund to invest without formal regulation.