AIICO Insurance Plc has confirmed that it is sustaining regular retirement income for more than 28,000 annuitants across Nigeria, disbursing roughly N2.1 billion in annuity benefits each month.
The insurance company said the payments are part of its ongoing commitment to provide reliable pension support for retirees who have chosen its annuity plans. According to AIICO, the monthly outlay covers a wide range of beneficiaries, ensuring that they receive consistent income after leaving the workforce.
While the company did not disclose the breakdown of the N2.1 billion figure, it highlighted that the figure represents the total amount paid to all annuitants in a typical month. This level of disbursement underscores the scale of AIICO’s pension portfolio and its role in supporting retirees’ financial security.
AIICO’s statement comes at a time when many Nigerian pension schemes are under scrutiny for their sustainability and the adequacy of payouts to retirees. By maintaining a steady stream of payments, the insurer aims to demonstrate its capacity to meet long‑term obligations.
For more information, readers can refer to the full report on Punch Nigeria’s website.
<small>Source: Punch Nigeria — read the original story there.</small>