ARM Pension allays customers fear on pension contribution
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.