By NewsBits
Pension Fund Administrators (PFAs) have started the implementation of the directive by the National Pension Commission (PenCom). The directive makes it illegal for PFA’s to offer gifts to customers.
Such communication from Stanbic IBTC Pension Managers Limited to its customers, which was sighted by our Business Correspondent reads: “…The National Pension Commission (PenCom) has released a regulation that prohibits Pension Fund Administrators (PFAs) from offering gifts to customers. Following this regulation, we regret to inform you that the Loyalty Program will be coming to an end.
“Effective immediately, the program would be terminated, and the Stanbic IBTC Pension Managers Loyalty Card will no longer be valid when presented at our partner stores. While we sincerely regret any inconvenience this may have caused, we would like to reassure you of our dedication and commitment to providing you with exceptional service at all times.
“Thank you for your valued patronage.
“Best regards, Stanbic IBTC Pension Managers Limited.”
