One of the most important things that you should never forget is a pension plan. Pension is like a ticket that safeguards your future/retirement.
The internet defines pension as a fund into which a sum of money is added during an employee’s employment years and from which payments are drawn to support the person’s retirement from work in the form of periodic payments.
One common misconception is that a high paying job is needed before you get a pension plan. This is not true. You can get affordable and amazing pension plans that will suit your income and lifestyle.
Either you are self-employed, working for someone or you have a low-income job, it is advisable that you get a pension plan as soon as you can. The retirement age in Nigeria is 60 years, you should not wait till it is too late before you get a pension plan.
READ ALSO: Stanbic IBTC Reiterates Benefits Of The Pension Transfer Window
Stanbic IBTC pension amongst other pension providers offers the best pension plan in Nigeria. Switching pension service providers is very much allowed.
Having the best pension service provider and the best plan puts you at ease and it helps you know that your retirement is secured. Securing your retirement is one of the best gifts that you can give yourself ahead of your old days.
To get more information about pension, the best plan, the best provider and how to secure your retirement, go to BizWatch Nigeria to get more information. BizWatch Nigeria will be holding a webinar on pension, be sure to sign up for the newsletter and join the WhatsApp group to stay updated.
Here are 7 things that you should know about pension before you retire
The truth about pension
Everyone is entitled to a pension plan and adequate information about pension too. Retirement is when you should relax and enjoy your days not lamenting, having a retirement plan in place would calm all your fears about pension. The common misconception that pension should is for high-income earners is wrong.
Pension providers
Before you select a provider, you need to have adequate information about pension and their providers. Do proper research on the providers, their services and the affordability. There are over 10 pension providers in Nigeria.
Accessing your pension funds
You can draw money from your pension or exchange the cash with an insurance company for a regular income until death, called an annuity. You can access your funds when you retire, from the age of 55 or 60, however, if you retire before the stated age you can not access the funds.
How to select a provider
What do you want? Do you want an affordable service? Do you want a pension provider that will help you manage your fund properly? There are so many providers, be sure that you carefully select the best one there is. Adequate research will help you with this. BizWatch Nigeria’s webinar on pension will help you with this.
Age
Even if you do not retire by 60, you can still get a pension plan in place. Working past 60 is not a violation in the pension act.
Pension is the ‘it’ thing
Pension is the ‘it’ thing. Some events are opened to all while some are private; strictly by invitation, you would need an access card or a ticket. Just like pension, retirement is open to all but a lifetime of enjoyment plus pension requires an access card.
Pension is safe
Your pension is like an insurance for a better tomorrow, your safe ticket for a sweet retirement. If you select your provider wisely then you have no need to think your pension is not safe. Your pension funds are most definitely safe, no need to fret.
To get more details about pension and pension providers subscribe to BizWatch Nigeria‘s newsletter and register for our upcoming webinar.
