Stanbic IBTC Pension advises retirees on financial security
Chief Executive, Stanbic IBTC Pension Managers Limited, Mr. Eric Fajemisin, has charged workers across the country to plan for their retirement through financial security.
Fajemisin, who stated this at a pre-retirement forum organised by Stanbic IBTC Pension Managers Limited, in Abuja, at the weekend, outlined steps to help people make a successful transition to the next stage of their lives and have the dream retirement they desire.
Fajemisin, speaking on behalf of the PFA, said, though people have the freedom to make choices about the kind of life they want to have in retirement, failure to plan for this eventuality will however lead to unpleasant consequences.
The Nigeria’s current pension system, as enshrined in the Pensions Reform Act of 2014, he stressed, is a powerful tool with which to set future goals and create the comfort and security necessary to enjoy fulfilment in retirement.
Fajemisin, who was represented by Executive Director, Investments, Mr. Oladele Sotubo, said as people head towards retirement, a decision about the type of life they wish to live in retirement should not be made from the hip, but rather through a well-structured financial planning process. The process, he said, should commence from the day one takes on a first job and involves setting aside part of current income into a retirement savings account.
The pre-retirement forum, which the firm launched three years ago, is part of initiatives aimed at encouraging retirement planning amongst Nigerian workers and employers, Fajemisin said.
