ARM Pen­sion al­lays cus­tomers fear on pen­sion con­tri­bu­tion

Daily Trust - - BUSINESS - From Hal­ima Musa, Kano

The ARM Pen­sion Limited, one of the li­censed pen­sion fund ad­min­is­tra­tors, in col­lab­o­ra­tion with the Nige­rian Civil Ser­vice Union, has brought to­gether civil ser­vants and re­tirees for an in­ter­ac­tive fo­rum where fre­quently asked ques­tions about the scheme were an­swered.

Clear­ing the mis­con­cep­tions of re­tirees, ARM Pen­sion Re­gional Head, Isma’il Sal­isu, said the new pen­sion scheme was planned in such a way that con­trib­u­tors’ fund are well se­cured even where a pen­sion ad­min­is­tra­tor ceaseD to ex­ist.

He ex­plained: “Con­trib­u­tors fund is 100% save. The fall of a pen­sion ad­min­is­tra­tor will not af­fect the fund be­cause the fund is with the fund cus­to­dian and not the pen­sion ad­min­is­tra­tor.

Sal­isu said that re­tirees have noth­ing to fear be­cause strong mea­sures were taken by the Pen­sion Com­mis­sion to safe­guard their money, adding that there were strong laws guid­ing the oper­a­tion of the new pen­sion scheme.

“For ex­am­ple, the pen­sion ad­min­is­tra­tors are al­lowed to in­vest only 25% of the money they are man­ag­ing in eq­ui­ties while the re­main­ing 75% goes to fixed in­come in­stru­ments,” he added.

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