Established and Unmarried…planning your retirement.

Established and Unmarried…planning your retirement.

Once upon a time, being unmarried was considered a disadvantage, however many single people have gone ahead to lead respectable and established lives. While a person may stay unmarried for several reasons, be it by choice or due to unplanned circumstances, planning your retirement as a single person does not have to be a cumbersome process. There are some key things you should consider in your quest for a secured future as you approach retirement.

  • Who is your Next of Kin?

If you were previously married or never married, there is a possibility that either your spouse or one of your parents is named your Next of Kin(NOK). Either ways, there is a need to review your NOK to ensure that it alludes to someone who is agile and responsive enough to play that role, should the need arise. See the full duties of a NOK here.

  • Do you have an RSA Will Beneficiary?

You might also want to consider setting up an RSA Will which clearly states who should benefit from your pension fund should anything happen to you. Your NOK is not automatically entitled to access the funds in your pension, you need to set up a beneficiary for that purpose.

  • Have you saved enough for tomorrow?

In the case where you have mostly been dependent on your spouse financially, now is a good time to take charge of your finances in preparation for the future. To save faster, we recommend that you set up an Additional Voluntary Contribution to supplement your monthly pension contribution.

  • How responsive is your PFA?

To put all these in place, you need a reliable and accessible PFA. Your relationship manager at your PFA will guide you into choosing the right payment option for your emolument. If you do not have a PFA or would like to move your account to ARM Pension, talk to us today.

  • Other Investment opportunities

Perhaps your late spouse left you an inheritance, you could consider reinvesting the funds to yield more for you. Real estate, mutual funds and stocks are good investment opportunities to consider.

Should you require further information regarding any of the points raised above or general information about your Pension, send an email to [email protected] or call +234 (1) 2715000/ 0700 CALL ARM (0700 2255 276).

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Source: Blog

In the news: DMO Raises N244bn via Bond

In the news: DMO Raises N244bn via Bond

Punch

DMO: Foreign debt payment to gulp $11.62bn in 10 years

Nigeria may have to grapple with the payment of $11.62bn in foreign debt in the next 10 years, a projection of the Debt Management Office has shown.

Nigeria’s crude oil over-subscribed, says NNPC

The Nigerian National Petroleum Corporation has said the demand for the nation’s crude oil outstrips the current supply.

This Day

DMO Raises N244bn via Bond, almost Double Amount on Offer

The Debt Management Office (DMO) raised N243.7 billion at a bond auction on Wednesday, almost double the amount it had initially sought, as local funds and foreign investors piled into longer-term debt to lock in higher returns.

Nigerian Equities Market Rebounds, Index Rises 0.44%

The Nigerian equities market Wednesday recorded its first gain in the week following bargain hunting and appreciation posted by Dangote Cement Plc.

Guardian

NNPC to lift force majeure on Bonny Light in October

Nigerian National Petroleum Corporation, NNPC, plans to lift the force majeure on Nigeria’s Bonny Light crude next month.

Naira depreciates to 360/$ in NAFEX as CBN plans to sell N130.4b T-bills

The naira, yesterday, depreciated to N360 per dollar in the Nigerian Autonomous Foreign Exchange, NAFEX, just as the Central Bank of Nigeria, CBN plans to sell N130.4 billion treasury bills next month.

The Nation

Reps give CBN, Auditor-General six weeks to provide TSA’s report

The House of Representatives has given the Central Bank of Nigeria (CBN) and the Office of the Auditor-General of the Federation (OAGF) six weeks to provide detailed reconciliation and audit reports of the amounts generated so far in the Treasury Single Account (TSA) of the Federal Government.

Coca-Cola Nigeria okays $600m for expansion

Coca-Cola Nigeria  will invest $600 million by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks.

Reuters

Lafarge Africa lays out terms of proposed rights issue

The board of directors have approved the terms of rights issue and will raise 131.65 billion naira by way of rights issue at N42.5 per share by issuing 5 new shares for every 9 shares held by investors.

Bloomberg

Nigeria Plans to Sell $5.5 Billion of Eurobonds by Year-End: Nigeria plans to sell as much as $5.5 billion of Eurobonds in the next three months to fund capital projects and replace local-currency debt, according to the Debt Management Office.

 

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Source: Blog