THISDAY

Inflation: Experts Advocate Alternativ­e Financial Options for Retirement Planning

- Ebere Nwoji

Finance experts have said that with the current state of the economy, pension contributi­ons alone could not guarantee better life at retirement advocating alternativ­e financial options for retirement planning.

The experts spoke at the maiden edition of the 2024 Inspenonli­ne Retirement Summit held in Lagos recently.

They insisted that those who solemnly rely on their contributi­ons alone for retirement, might end up living a miserable life.

They therefore, enjoined workers to always set aside fund from their salaries for Additional Voluntary Contributi­on (AVC) or purchase an Endowment Policy in insurance companies to augment whatever that may be coming from Contributo­ry Pension Scheme (CPS) monthly stipend.

Delivering the key note address at the retirement planning summit, the Founder & Managing Director ZER Consulting Africa Limited, Ms. Adeolu Adewumi-Zer, urged workers to identify their passion earlier in life and invest in it at retirement.

She believes this would amount to investment meets opportunit­ies.

Speaking, the former Managing Director/CEO Allianz Insurance Nigeria, said most people who entered into retirement unprepared did so because they lacked financial planning, advocating that each worker should have a financial planner who would guide him on the best investment options and helps him in the management of his wealth.

She said, “Most people who entered into retirement unprepared was because they lacked financial planning, it is important that each worker should have a financial planner who will guide him on the best investment options and help him in the management of his wealth.”

Also speaking, the former director general, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga,said that employers of labour must, as a matter of urgency, inculcate retirement trainings for each employee,such that,he or she could be financiall­y independen­t at retirement.

 ?? ?? L-R: President, Associatio­n of Corporate Treasurers of Nigeria (ACTN), Yinka Ogunnubi; Director at Deutsche Bank, Andreas Voss and Research Lead at RMB Nigeria, Usoro Essien, during the Global Trade Review Conference West Africa edition held in Lagos...recently
L-R: President, Associatio­n of Corporate Treasurers of Nigeria (ACTN), Yinka Ogunnubi; Director at Deutsche Bank, Andreas Voss and Research Lead at RMB Nigeria, Usoro Essien, during the Global Trade Review Conference West Africa edition held in Lagos...recently

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