Boost Your Retirement Income with Voluntary Pension Contributions
The importance of voluntary pension contributions alongside mandatory ones cannot be overstated. Kemi Oluwashina, the Managing Director of Premium Pension, highlighted the transformative impact of the Pension Reform Act 2014 on the lives of pensioners in Nigeria. This act birthed the Contributory Pension Scheme, providing financial security for the aging population.
The scheme requires a minimum contribution of 18%, with employers contributing 10% and employees 8%. However, making voluntary contributions can further enhance your retirement savings. By putting aside additional funds, you can secure a more comfortable future.
Voluntary contributions offer flexibility in the amount and frequency of contributions. It allows you to plan for a retirement that exceeds minimum pension requirements. Start building your nest egg today for a brighter tomorrow!
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