Welcome to 2018!
It’s a new year, with brand new expectations, goals and possibilities. Essentially, the New Year is apt for reflecting on the previous year and, with the future in view, deciding to do things better.
This is why setting up a retirement savings account (RSA) is one of the most important things you can do in 2018 – if you do not already have one.
A regularly funded pension account is an investment towards the future, and a very effective way to secure your life in retirement, as well as the future of your dependants. It is particularly important because we will not work forever, and retirement is almost inevitable as the human body slows down as we get older. One of the hallmarks of a smart person is that he or she prepares for the future. Therefore, if you are in paid employment, it is vital that you set up a retirement savings account as soon as possible.
The contributory pension scheme (CPS) is safe and effective, with a very efficient regulatory agency in charge of industry oversight and administering the provisions of the relevant statutes. The National Pension Commission (PENCOM), empowered by the Pension Reform Act, 2014, ensures up-to-date regulatory and supervisory rules to safeguard the pension savings of all contributors under the scheme. This is achieved through effective supervision of pension operators, and enforcement of various guidelines, rules, regulations and laws. Collectively, these serve to inspire confidence in the CPS and encourage more employers and workers to participate in the scheme.
A retirement savings account is one of the most important investments an employee can make in the course of employment. Make the very best of your years of employment and ensure you set up a retirement savings account. Employers and employees alike are enjoined to comply with statutory requirements to, not only set up the retirement savings account, but to also ensure regular and diligent funding.
Once again, welcome to a new year. Remember that this is the future we dreamt of last year. Tomorrow is closer than we anticipate and, so, we must wisely prepare for it.
Set up your retirement savings account today! And AXA Mansard Pensions will be delighted to help empower you to live a better life.