Top Tweets for #EngageWithARMPensions
Got questions or suggestions? Tweet at us, we’re right here to take them. For more resources to help you make better financial decisions, check https://t.co/pFG7Rpz3uV #MillennialsInNigeria #EngageWithARMPensions
Lots of millennials ignore the importance of financial planning as a vital step in ensuring that they have a good tomorrow. For your tomorrow to look good, Financial Planning is crucial now more than ever. #MillennialsInNigeria #EngageWithARMPensions
With a proper financial plan, a millennial is more likely to be in a better financial position to face the current trends and downturns. He/she can cut down on expenses and make more from investments. #MillennialsInNigeria #EngageWithARMPensions
Financial planning involves determining how to meet your financial goals through proper management of financial resources available to you. And the right time to start this is NOW. #MillennialsInNigeria #EngageWithARMPensions
Based on current trends, many millennials won’t be able to retire until age 75 <insert shocked emoji> But how can you as a millennial fix this? Simple answer is through Financial Planning. #MillennialsInNigeria #EngageWithARMPensions
Add to it the fact that they are the sandwich generation caught between taking care of their parents and building their own family. #MillennialsInNigeria #EngageWithARMPensions
Millennials face more hurdles than their older counterparts ever had to experience growing up mainly due to technological developments on a global level #MillennialsInNigeria #EngageWithARMPensions
With increasing inflation, change in lifestyles and other factors, Millennials don’t always feel they have job security or aren’t satisfied with what they are earning. #MillenialsInNigeria #EngageWithARMPensions
Times have changed and salaries don’t hold as much value today thanks to inflation, rising cost of the ‘necessities’ of life like education, feeding, housing, healthcare and more. #MillennialsInNigeria #EngageWithARMPensions
Millennials have been slated to potentially end up as a poorer generation than the generation before them. Isn’t this shocking? Tag every millennial you know, let’s discuss & find a solution to this.
#Thread #QuestionsWelcome #EngageWithARMPensions
Got questions? Moronke is here to take them. Tweet at us. You can also learn more about the Multi-Fund Structure at https://t.co/Uo4qa3UfPi
#EngageWithARMPensions #MultiFundStructure
To recap, with the Multi-Fund Structure, you now have more control over how your pension is invested based on your age and risk tolerance.
#EngageWithARMPensions #MultiFundStructure
Contributors 49 years & below are automatically placed in Fund II. Contributors 50 years & above are placed in Fund III. They can request to switch funds within a PFA once in 12 months without a fee.
#EngageWithARMPensions #MultiFundStructure
Exposure to risk has been designed such that Fund I has the highest exposure, followed by Fund II, III and IV. This aligns the risk and uncertainty of contributors in line with their age.
#EngageWithARMPensions #MultiFundStructure
People approaching retirement are advised to curtail their risk appetite and reduce their exposure to uncertainty, as they would start drawing from their pensions within a short period.
#EngageWithARMPensions #MultiFundStructure
Younger people are typically known to have a higher “Risk Tolerance”, i.e. they are more open to taking risks as it is assumed that they have more time to recover from loses (if any).
#EngageWithARMPensions #MultiFundStructure
So, you are wondering; what is my risk profile? Why is my age so important? Your risk profile talks about how much risk or uncertainty you are willing to deal with when it comes to investing money.
#EngageWithARMPensions #MultiFundStructure
The Fund Types are:
Fund I –Optional, available on formal request only.
Fund II –Default for contributors aged 49 and below.
Fund III – Default for contributors aged 50 and above.
Fund IV –Retiree Fund.
#EngageWithARMPensions #MultiFundStructure
There are four fund types in all; 3 active funds and 1 Retiree fund. The Multi-Fund structure aligns your age and risk profile to the fund type most appropriate for you.
#EngageWithARMPensions #MultiFundStructure
Consequently, there will be a better chance for your pension assets to meet your expectations when you retire.
#EngageWithARMPensions #MultiFundStructure
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