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Stanbic IBTC Pension preaches early retirement planning

By on April 8, 2014

Stanbic IBTC Pension Managers Limited has advised workers who are enrolled under the Contributory Pension Scheme to understand the importance of early retirement planning.

According to a statement on Saturday, the Chief Executive, Stanbic IBTC Pension Managers Limited, Dr. Demola Sogunle, said this during the firm’s second interactive pre-retirement seminar in Abuja.

He said raising awareness of retirement would help companies and their employees in particular to better understand the imperative of retirement planning.

“People are apprehensive about retirement because they do not plan for it early enough. Ideally, planning for retirement should commence from the day one takes on the first job. It demands setting aside part of the current income into a retirement savings account. Our central mission at Stanbic IBTC Pension is to help Nigerians address their retirement needs,” he said

Sogunle said another objective of the firm’s campaign was to further deepen the relationship with its customers by reminding them of its availability at anytime and anywhere to attend to their needs.

By this, he said the Pension Fund Administrator would obtain significant feedback with which it would develop solutions to address contributors’ specific needs.

Sogunle emphasized that planning for retirement should commence early in an individual’s working life as it would take many years to accumulate the necessary funds with which to live comfortably when the salary eventually ceased.

He advised individuals to be educated on their pensions because no one would ever care about their retirement investments as much as they could, adding that when making retirement investments, they should seek professional assistance.

“The third thought is even if you may have stopped working for money; your money should never stop working hard for you,” he said.

 

 

[Punch]