Retirement Funds

A fund established by an employer to help organize the investment of employees' retirement funds contributed by the employer and employees. Individuals can also contribute towards a personal pension fund.

The primary purpose of retirement funds is to provide retirement or death benefits to members and their beneficiaries in terms of their registered rules. Retirement funds may also provide ancillary benefits such as disability benefits, withdrawal benefits, child and spouse’s benefits. The benefits payable by retirement funds are set out in the fund’s rules.

Ever had these thoughts?

• Am i ready to retire?
• Should I start my pension at a young age?
• How many pensions funds can I have?
• What are the benefits of a pension fund?

Am I ready to retire?

Many people are not ready for retirement .The one third is not enough.

How many Pension Funds can I have?

I contribute towards a separate pension fund to cushion my retirement more!

What happens to my contribution?

The funds under their management are invested in a prudent way so as to generate optimum returns to members, the money is used with an acceptable level of risk.

How much should I contribute?

• Minimum individual amount differs with companies,
• Paying more than 10-15% of your income can reduce your annual tax.
   

When is the money paid to me?

Funds differ, most pension funds pay 1/3 of the total amount upon retirement depending on the amount accumulated.

When should I start my pension?

I started my pension fund young. It’s the wise thing to do.