Nume Ekeghe and James Emejo in Abuja
Sigma Pensions has become the first Pension Fund Administrator (PFA) to launch the Non-interest Retirement Savings Account (RSA) Fund VI, in a bid to provide retirement savings that aligns moral beliefs and values skewed towards ethical investing.
This fund whose nod was given by the National Pension Commission (PenCom) last month, would see Sigma Pensions position itself as a trailblazer of the non-interest RSA fund also known as Fund VI.
Speaking at the launch yesterday, the Chairman, Board of Directors, Sigma Pensions Limited, Mr. Mark Collier, noted that the fund would drive greater financial inclusion among an underserved segments of the Nigerian population as well as deepen financial inclusion and pension enrolment.
Speaking at the launch Thursday, the Chairman, Board of Directors, Sigma Pensions Limited, Mr Mark Collier noted that this fund would drive greater financial inclusion among an underserved segment of the Nigerian population as well as deepen financial inclusion and deepen pension enrolment.
The fund, which was given the nod by the National Pension Commission (PenCom) penultimate week would see Sigma Pensions position itself as a trailblazer of the non-interest RSA fund also known as Fund VI.
“Having a vibrant non-interest pension offering will help deepen the breadth and sophistication of the domestic pension and non-pension fund management industry.”
The Managing Director, Sigma Pensions, Mr Dave Uduanu, said: “This product is particularly unique because for the first time ever in our market, it allows pension account holders to be able to have pension solutions that aligns with their beliefs and values.”
It also consists of the backlog of death benefits claims due to beneficiaries of deceased employees of treasury funded MDAs.
On April 14, 2021, the Director General of PenCom, Aisha Dahir-Umar, told the members of the visiting Senate Committee on Establishment & Public Services that a large number of federal government employees who retired from March 2020 to March 2021 under the CPS were yet to receive their pensions due to non-payment of their Accrued Pension Rights.
She traced the issue to 2014 due to “the appropriation of insufficient amounts for payment of Accrued Pension Rights of Federal Government of Nigeria (FGN) retirees and further aggravated by late or non-release of full appropriated amounts.”
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