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Best Performing Mutual Funds

For investors seeking to grow their financial portfolios, Mutual Funds provides stability and growth in the ever-evolving landscape of investment opportunities like Nigeria. You cannot underscore the importance of aligning with a trusted partner renowned for excellence in the financial sector. FBNQuest, Nigeria’s leading merchant and investment bank, offers a curated selection of the best performing Mutual Funds tailored to meet the diverse needs of investors worldwide.

How Mutual Funds Work

FBNQuest is a professional mutual fund that helps investors to invest in several low-risk, stable assets like bonds, commodities and stocks. Some mutual funds even invest in real estate. Mutual funds are widely diversified and help to minimize risk to an investment and their high liquidity makes it easy to buy and redeem shares. See the types of mutual funds here.

Discovering the Best Performing Mutual Funds

In a market flooded with investment options, identifying the best performing Mutual Funds is essential for investors looking to achieve their financial goals. At FBNQuest, we pride ourselves on delivering consistent performance and unparalleled service to our clients. Our Best Performing Mutual Funds are meticulously curated by a team of seasoned professionals, combining in-depth market analysis with strategic investment decisions to ensure optimal returns for our investors.

FBN Bond

The FBN Bond Fund offers access to a diverse portfolio of government and corporate bonds, ensuring both liquidity and high returns. With a minimum investment of N50,000, investors receive annual dividends, backed by a stable performance history. The FBN Bond was launched on the 24th of September, 2012, and has grown to N4.47bn. It boasts an impressive 204.24% total return from inception to date.

FBN Halal Fund

For Shariah-compliant investors, the FBN Halal Fund provides the ideal avenue. With a minimum investment of N5000, FBNQuest invests in assets that adhere to religious and moral norms, such as Sovereign Sukuk, Corporate Sukuk, Ijarah (Lease), Murabaha (Cost plus mark-up), Musharaka (Partnership) and Mudarabah (Working Partner) contracts. FBN Halal is perfect for long-term income generation, boasting a return of 13.22% as of December 2023.

FBN Money Market

The FBN Money Market Fund is an excellent short-term option, investing in a variety of low-risk securities like Treasury bills. With a minimum investment of N5,000, it offers stability and consistent returns while it preserves capital and maintains a high level of liquidity. The FBN Money Market fund was launched in September 2012 and now has a size of ₦226.25bn.

FBN Balanced Fund

Managing risk through a diversified portfolio of high quality Nigerian companies and long-term debt instruments of government such as Treasury Bills and Commercial papers, the FBN Balanced Fund allocates funds across various asset classes, including stocks, and money market securities. With a minimum investment of N50,000 and annual dividends, it offers stability and growth potential. FBN Balanced Fund was launched in April 2008, growing to ₦2.85bn with 176.65% fund yield from inception till date.

Invest with Confidence

When it comes to investing in the best performing mutual funds, FBNQuest offers a compelling proposition with a legacy of trust and reliability spanning decades. Our Mutual Funds are designed to cater to the diverse needs and risk appetites of investors, providing access to a diversified portfolio of securities across various asset classes. Whether you’re a seasoned investor or new to the world of investments, FBNQuest’s personalized approach ensures that your financial aspirations are realized with precision and confidence. Let our seasoned professionals contact you and get started today.

Contact Us :

Call us at : 01-2801340-4

Email Us at : ccu@fbnquestmb.com

Address : Lagos 16 Keffi Street, Off Awolowo Road, S.W. Ikoyi, Lagos, Nigeria

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Fixed Income Funds

In today’s dynamic financial landscape, investors are constantly seeking avenues for stable and lucrative returns. Fixed Income Funds are a beacon of reliability, offering investors a secure path to wealth, growth and accumulation. At the forefront of this financial revolution stands FBNQuest, Nigeria’s premier merchant and investment bank, committed to empowering individuals worldwide with unparalleled investment opportunities.

Fixed Income Funds are all about stability. They give you a reliable income, even when the financial market is unpredictable. They pay you a fixed interest amount or dividend until the maturity date. When the Fixed income matures, investors are repaid the principal amount they had invested. Also, investors know the exact amount of the returns they will get ahead.  Government and corporate bonds are the most common types of fixed-income products.

Types of Fixed Income

FBNQuest’s Fixed Income Funds are made up of different kinds of investments, like government bonds and corporate loans. This mix helps to keep your money safe while still making it grow over time.

Treasury bills (T-bills)

Treasury bonds (T-bonds)

Treasury Inflation-Protected Securities (TIPS)

Corporate bonds

High-yield bonds

Certificate of deposit

Fixed Income Pros and Cons

Pros

Steady income stream of fixed returns

More stable returns than stocks

Higher claim to the assets in bankruptcies

Government and FDIC backing on some

Cons

Returns are often lower than other investments

Credit and default risk exposure

Vulnerable to interest rate fluctuations.

Sensitive to Inflationary risk

Explore Stability of Fixed Income Funds With FBNQuest

Fixed Income Funds represent a cornerstone of conservative investment strategies, providing investors with a steady stream of income while minimizing exposure to market volatility. At FBNQuest, we recognise the importance of stability in uncertain times, and our Fixed Income Funds are meticulously curated to deliver consistent returns, irrespective of market fluctuations. With a diverse portfolio comprising government securities, corporate bonds, and money market instruments, our funds offer a compelling blend of security and growth potential.

Unparalleled Expertise and Insight

What sets FBNQuest apart is our unwavering commitment to excellence and expertise in navigating the intricacies of the financial market. With a team of seasoned professionals at the helm, we leverage our deep-rooted industry knowledge and market insights to tailor Fixed Income Funds that align with our clients’ investment goals and risk appetite. Whether you’re a seasoned investor or a novice exploring investment opportunities, our personalized approach ensures that your financial aspirations are realized with precision and confidence.

In conclusion, Fixed Income Funds stand as a testament to stability and prosperity in an ever-evolving financial landscape. At FBNQuest, we invite you to embark on a transformative journey towards financial empowerment and wealth growth. With our comprehensive suite of Fixed Income Funds, backed by unrivaled expertise and a legacy of trust, we position ourselves as the premier choice for investors seeking to unlock the full potential of their financial portfolios. Invest with FBNQuest today and embark on a path towards enduring financial success.

In crafting your financial future, contact FBNQuest—the epitome of excellence in investment banking.

Contact Us :

Call us at : 01-2801340-4

Email Us at : ccu@fbnquestmb.com

Address : Lagos 16 Keffi Street, Off Awolowo Road, S.W. Ikoyi, Lagos, Nigeria

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Pension plan - Oak Pensions

Navigating the Future

In the realm of personal finance, a Pension Plan stands as a cornerstone of financial security and stability. As we embark on the journey of financial well-being, it's imperative to understand the significance of a Pension Plan—an essential roadmap that safeguards your future and secures your retirement dreams.

Pension Plan Defined

A Pension Plan is a systematic financial arrangement designed to provide a steady stream of income to individuals upon their retirement. These plans offer a structured approach to savings, ensuring that individuals set aside a portion of their income during their working years to support their financial needs post-retirement.

The Inner Workings of a Pension Plan

A Pension Plan involves a series of intricate processes and mechanisms designed to accumulate and manage funds for an individual's retirement. Here’s a closer look at these processes:

Contributions

Individuals, and in some cases their employers, regularly contribute a portion of their income. These contributions can be made through payroll deductions, direct deposits, or periodic transfers, depending on the specific plan and its rules.

Accumulation of Funds

The contributions collected from participants are pooled together to create a fund. This fund serves as the financial reservoir that will support individuals in their retirement years.

Investment and Growth

The funds within a Pension Plan are actively managed to promote growth. Pension Fund Administrators, like OAK Pensions, employ various investment strategies, including a mix of asset classes such as stocks, bonds, and real estate. The goal is to generate growth through capital appreciation, interest, and dividends. Over time, the initial contributions, combined with the returns generated from investments, result in substantial fund growth. Compound growth plays a crucial role in ensuring the fund's ability to support individuals during their retirement.

Tax Benefits

One of the key attractions of a Pension Plan is the tax advantages it offers. In many countries, contributions to such plans are tax-deductible, lowering the contributor’s taxable income and providing potential tax savings.

Access at Retirement

Pension Plans typically restrict access to the accumulated funds until the participant reaches a certain age, often referred to as the retirement age. This restriction ensures that the savings remain preserved for their intended purpose: providing financial security during retirement.

Payout Options

When a participant reaches the eligible retirement age, they have various options for accessing the funds. These options may include receiving regular pension payments, taking a lump-sum distribution, or a combination of both, depending on the terms of the plan and the participant’s preferences.

Summary

The inner workings of a Pension Plan involve systematic contributions, professional investment management, and the accumulation of funds over time. The plan operates under the premise of consistent savings and prudent investment strategies, with the ultimate goal of securing a financially stable and comfortable retirement for its participants.

CONTACT US:

Call: +234 700 225 5625 / 01-2953095

Whatsapp: +234 818 692 6760

Mail to: info@oakpensions.com

Website: www.oakpensions.com

Address:

266, Murtala Muhammed Way,

Alagomeji, Yaba, Lagos

[odianoscar]

Pension plan - Oak Pension

Navigating the Future

In the realm of personal finance, a Pension Plan stands as a cornerstone of financial security and stability. As we embark on the journey of financial well-being, it's imperative to understand the significance of a Pension Plan, an essential roadmap that safeguards your future and secures your retirement dreams.

Pension Plan Defined

A Pension Plan is a systematic financial arrangement designed to provide a steady stream of income to individuals upon their retirement. These plans offer a structured approach to savings, ensuring that individuals set aside a portion of their income during their working years to support their financial needs post-retirement.

The Inner Workings of a Pension Plan

These involve a series of intricate processes and mechanisms designed to accumulate and manage funds for an individual's retirement. Here's a closer look at this:

Contributions: Individuals and, in some cases, their employers, regularly contribute a portion of their income. These contributions can be made through payroll deductions, direct deposits, or periodic transfers, depending on the specific plan and its rules.

Accumulation of Funds: The contributions collected from participants are pooled together to create a fund. This fund serves as the financial reservoir that will support individuals in their retirement years.

Investment and Growth: The funds pooled within a Pension Plan are not stagnant; Pension Fund Administrators like OAK Pensions utilize various investment strategies to grow the fund over time by carefully investing in various financial instruments. These strategies typically include investments in a mix of asset classes, such as stocks, bonds, and real estate aimed to generate growth through capital appreciation, interest, and dividends; the funds benefit from the power of compound growth. Over time, the initial contributions, along with the returns generated from investments, multiply, resulting in substantial growth of the fund. Compound growth is a key driver in ensuring the fund's ability to support individuals during their retirement.

Tax Benefits: One of the key attractions of a Pension Plan is the tax advantages it offers. In many countries, contributions to such plans are tax-deductible, lowering the contributor's taxable income and providing potential tax savings.

Access at Retirement: Pension Plans typically have provisions that restrict access to the accumulated funds until the plan participant reaches a certain age, often referred to as the retirement age. This restriction ensures that the savings remain preserved for their intended purpose: providing financial security during retirement. Payout Options: When a plan participant reaches the eligible retirement age, they have various options for accessing the funds. These options may include receiving regular pension payments, taking a lump-sum distribution, or a combination of both, depending on the terms of the plan and the participant's preferences.

Summary

The inner workings of a Pension Plan involve systematic contributions, professional investment management, and the accumulation of funds over time. The plan operates under the premise of consistent savings and prudent investment strategies, with the ultimate goal of securing a financially stable and comfortable retirement for its participants.

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voluntary pension contributions

The Power of Voluntary Pension Contributions

Planning for a secure retirement is a lifelong journey that requires thoughtful consideration and strategic financial decisions. In many countries, including Nigeria, individuals are taking charge of their retirement destiny by embracing the concept of voluntary pension contributions. These contributions empower individuals to augment their retirement savings and ensure a comfortable future. In this article, we will explore these contributions, their benefits, and how they can transform your retirement outlook.

Understanding Voluntary Pension Contributions

This is often referred to as voluntary contributions, which are extra contributions made by individuals to their retirement savings accounts beyond the mandatory contributions stipulated by their pension scheme. In the Nigerian context, the Contributory Pension Scheme (CPS) mandates both employees and employers to make regular contributions to the Retirement Savings Account (RSA). Voluntary pension contributions provide an avenue to supplement these regular savings.

The Flexibility of Voluntary Pension Contributions

One of the most attractive aspects of voluntary pension contributions is their flexibility. Contributors have the liberty to decide when and how much to contribute, as long as it does not exceed certain limits set by pension regulations. This flexibility allows individuals to adapt their contributions to their financial situation, making it accessible to both high-income earners and those with more modest salaries.

The Benefits of Voluntary Pension Contributions

Boosting Retirement Savings: The primary benefit of voluntary pension contributions is that they boost your retirement savings. By contributing more to your RSA, you increase the funds available to you when you retire. This can translate into a more comfortable and financially secure retirement.

Tax Benefits: In Nigeria, voluntary pension contributions come with tax incentives. The contributions are tax-deductible, which means you can reduce your taxable income by the amount you contribute, potentially lowering your tax liability.

Compound Interest: Voluntary contributions have more time to grow through compound interest, as they are typically made earlier in one's career. This can significantly enhance the final retirement corpus.

Financial Discipline: Making voluntary contributions encourages financial discipline. It instills a savings habit and reinforces the importance of long-term financial planning.

Understanding Voluntary Pension Contributions

This is often referred to as voluntary contributions, which are extra contributions made by individuals to their retirement savings accounts beyond the mandatory contributions stipulated by their pension scheme. In the Nigerian context, the Contributory Pension Scheme (CPS) mandates both employees and employers to make regular contributions to the Retirement Savings Account (RSA). Voluntary pension contributions provide an avenue to supplement these regular savings.

The Flexibility of Voluntary Pension Contributions

One of the most attractive aspects of voluntary pension contributions is their flexibility. Contributors have the liberty to decide when and how much to contribute, as long as it does not exceed certain limits set by pension regulations. This flexibility allows individuals to adapt their contributions to their financial situation, making it accessible to both high-income earners and those with more modest salaries.

How to Get Started

Getting started is straightforward:

Contact OAK Pensions: Reach out to us to express your interest in making voluntary contributions. We will guide you through the process.

Set a Contribution Schedule: Determine how often you want to make contributions (e.g., monthly, or quarterly) and the amount you wish to contribute.

Leverage Tax Benefits: Be aware of the tax benefits associated with voluntary contributions and ensure you keep proper records for tax purposes.

Review and Adjust: Periodically review your contributions to ensure they align with your financial goals. You can adjust them as your circumstances change.

Voluntary pension contributions: are a powerful tool for securing your financial future and achieving a comfortable retirement. They offer flexibility, tax advantages, and the potential for significant long-term growth. Taking advantage of this is a proactive step toward unlocking financial freedom in your retirement years. So, start planning today, and build a brighter tomorrow. Your retirement will thank you for it.

CONTACT US:

Call: +234 700 225 5625 / 01-2953095

Whatsapp: +234 818 692 6760

Mail to: info@oakpensions.com

Website: www.oakpensions.com

Address:

266, Murtala Muhammed Way,

Alagomeji, Yaba, Lagos

[odianoscar]

retirement savings account

Understanding the Retirement Savings Account

A Retirement Savings Account (RSA) is a fundamental financial tool that empowers individuals to save and invest for their retirement. It serves as a dedicated account where contributions from both employees and employers are accumulated over the course of an individual's working life.

The establishment of a Retirement Savings Account is a central aspect of contributory pension systems, and it forms the foundation for retirement planning in many countries worldwide.

In a typical Retirement Savings Account setup, a portion of an employee's monthly salary is deducted and contributed to the account by the employer. This regular contribution pattern ensures a steady growth of the retirement corpus over time. It is designed to offer a long-term savings solution, allowing individuals to build up a substantial nest egg that will support them during their retirement years.

One of the key advantages of the Retirement Savings Account is its portability. Regardless of changes in employment, individuals can retain their RSA and continue contributing to it, ensuring the uninterrupted growth of their retirement savings. The accounts are typically managed by Pension Fund Administrators (PFAs) such as OAK Pensions, who are responsible for investing the funds in a diversified portfolio to generate attractive returns while managing risk effectively.

The introduction of the Retirement Savings Account has marked a significant shift from the traditional defined benefit pension schemes to more sustainable defined contribution schemes. This change has placed the responsibility of retirement planning more in the hands of the individual. Contributions made to the Retirement Savings Account enjoy tax benefits in many countries, incentivizing individuals to save for their future and reducing their tax liabilities simultaneously. To ensure the safety and security of retirement savings, regulatory authorities closely supervise these Accounts, setting guidelines and standards for Pension Fund Administrators to adhere to.

Retirement Savings Accounts offer a range of investment options, including government securities, equities, and bonds, giving contributors the flexibility to choose investment strategies that align with their risk appetite and financial goals. With the rise of technology, many PFAs now provide online platforms for contributors to access and manage their accounts efficiently. The Retirement Savings Account has been instrumental in increasing pension coverage, particularly among workers in the informal sector and self-employed individuals who may not have had access to pension plans previously. The continuous growth of assets has contributed significantly to the development of capital markets and infrastructure projects, supporting the overall economic progress of many nations. This provides individuals with peace of mind, knowing that they are actively preparing for a financially secure and stable retirement.

In conclusion, the OAKs Pension Retirement Savings Account has emerged as a crucial instrument for retirement planning, empowering individuals to take control of their financial future. By fostering a culture of disciplined saving and strategic investment, the RSA has the potential to pave the way for a financially resilient and prosperous retirement for individuals across the globe.

CONTACT US:

Call: +234 700 225 5625 / 01-2953095

Whatsapp: +234 818 692 6760

Mail to: info@oakpensions.com

Website: www.oakpensions.com

Address:

266, Murtala Muhammed Way,

Alagomeji, Yaba, Lagos

[odianoscar]

pension plan

Navigating the Future

In the realm of personal finance, a Pension Plan stands as a cornerstone of financial security and stability. As we embark on the journey of financial well-being, it's imperative to understand the significance of a Pension Plan, an essential roadmap that safeguards your future and secures your retirement dreams.

Pension Plan Defined

A Pension Plan is a systematic financial arrangement designed to provide a steady stream of income to individuals upon their retirement. These plans offer a structured approach to savings, ensuring that individuals set aside a portion of their income during their working years to support their financial needs post-retirement.

The Inner Workings of a Pension Plan

These involve a series of intricate processes and mechanisms designed to accumulate and manage funds for an individual's retirement. Here's a closer look at this:

Contributions: Individuals and, in some cases, their employers, regularly contribute a portion of their income. These contributions can be made through payroll deductions, direct deposits, or periodic transfers, depending on the specific plan and its rules.

Accumulation of Funds: The contributions collected from participants are pooled together to create a fund. This fund serves as the financial reservoir that will support individuals in their retirement years.

Investment and Growth: The funds pooled within a Pension Plan are not stagnant; Pension Fund Administrators like OAK Pensions utilize various investment strategies to grow the fund over time by carefully investing in various financial instruments. These strategies typically include investments in a mix of asset classes, such as stocks, bonds, and real estate aimed to generate growth through capital appreciation, interest, and dividends; the funds benefit from the power of compound growth. Over time, the initial contributions, along with the returns generated from investments, multiply, resulting in substantial growth of the fund. Compound growth is a key driver in ensuring the fund's ability to support individuals during their retirement.

Tax Benefits: One of the key attractions of a Pension Plan is the tax advantages it offers. In many countries, contributions to such plans are tax-deductible, lowering the contributor's taxable income and providing potential tax savings.

Access at Retirement: Pension Plans typically have provisions that restrict access to the accumulated funds until the plan participant reaches a certain age, often referred to as the retirement age. This restriction ensures that the savings remain preserved for their intended purpose: providing financial security during retirement.

Payout Options: When a plan participant reaches the eligible retirement age, they have various options for accessing the funds. These options may include receiving regular pension payments, taking a lump-sum distribution, or a combination of both, depending on the terms of the plan and the participant's preferences.

Summary

The inner workings of a Pension Plan involve systematic contributions, professional investment management, and the accumulation of funds over time. The plan operates under the premise of consistent savings and prudent investment strategies, with the ultimate goal of securing a financially stable and comfortable retirement for its participants.

CONTACT US:

Call: +234 700 225 5625 / 01-2953095

Whatsapp: +234 818 692 6760

Mail to: info@oakpensions.com

Website: www.oakpensions.com

Address:

266, Murtala Muhammed Way,

Alagomeji, Yaba, Lagos

[odianoscar]

pension scheme in nigeria

This Act repeals the Pension Reform Act No .2, 2004 and enacts the Pension Reform Act, 2014 to continue to govern and regulate the administration of the uniform contributory pension scheme for both the public and private sectors in Nigeria. The main aim of the law is to ensure that employees save towards retirement and that every Federal/Public and Private sector employee receives their retirement benefits as and when due. The law establishes a mandatory funded contributory Pension scheme based on Individual Retirement Accounts for all Federal and Private Sector employees. The PRA 2014 has revised the rate of pension contribution (from 7.5% contributed equally by the employer and employee under the old law) to 8% for the employee and 10% for the employer; bringing the minimum total contributions for both parties to 18% compared to 15% previously. As contained in the 2004 legislation, an employer may choose to make the total mandatory contributions without making deductions from the salary of the employee; however, total remittance for any employer who chooses to remit without recourse to the employee must not be less than 20% of the monthly emolument of the employee. Monthly emolument is defined to mean total emolument as contained in the employee’s contract of employment, but shall not be less than the total sum of basic salary, housing and transport allowance. Employees are further compelled to retain the fund (comprising of contributions and net income therein) until they reach the age of 50 or retire, wherever is later. The Act nullifies the Pension Act, 1990, the Police and Other Agencies Pensions Offices (Establishment, etc) Act, 1993 and the Police Pension Rights of Inspector General of Police Act 1993. The Armed Forces Pension Act 1990 and the National Social Insurance Trust Fund Act 1993 will be amended and brought up to date to conform to the provisions of the Act. The intent of the Act is to dispense with the un-funded, defined-benefit pension scheme prevalent in the public sector and establish a fully defined contribution scheme for all employees in the Public and Private sectors. The law establishes a mandatory funded contributory Pension scheme based on Individual retirement Accounts for all Federal and Private Sector employees. It covers all private sector organizations with five (5) or more employees to make a minimum contribution of 15% of the emoluments (Annual Basic salary, transport and Housing allowance) to the Retirement savings Account (RSA) of each staff. Such contributions are to be paid into account of the pension Fund Administrator(s) (PFAs) selected by the individual staff with the Pension Fund Custodian (PFCs) nominated by the PFA. The Act establishes the National Pension Commission (PenCom) as the apex Regulatory body for Pension and two main service providers: Pension Fund Administrator (PFA) Pension Fund Custodian (PFC). The reform has created new opportunities in these two service areas from Pensions of both Federal/public sector and the Private Sector employees as well as of various state Governments, who though not mandated under the law, have since initiated the process of enabling similar laws. OAK Pensions Limited is therefore targeted at exploiting the huge potential market awaiting the Pension Fund Administrator under the new law.

CONTACT US :

Call : +234 700 225 5625 / 01-2953095

Whatsapp : +234 818 692 6760

Mail to : info@oakpensions.com

Website : www.oakpensions.com

Address :

266, Murtala Muhammed Way,

Alagomeji, Yaba, Lagos

[odianoscar]

contributory pension scheme in nigeria

This Act repeals the Pension Reform Act No .2, 2004 and enacts the Pension Reform Act, 2014 to continue to govern and regulate the administration of the uniform contributory pension scheme for both the public and private sectors in Nigeria. The main aim of the law is to ensure that employees save towards retirement and that every Federal/Public and Private sector employee receives their retirement benefits as and when due. The law establishes a mandatory funded contributory Pension scheme based on Individual Retirement Accounts for all Federal and Private Sector employees. The PRA 2014 has revised the rate of pension contribution (from 7.5% contributed equally by the employer and employee under the old law) to 8% for the employee and 10% for the employer; bringing the minimum total contributions for both parties to 18% compared to 15% previously. As contained in the 2004 legislation, an employer may choose to make the total mandatory contributions without making deductions from the salary of the employee; however, total remittance for any employer who chooses to remit without recourse to the employee must not be less than 20% of the monthly emolument of the employee. Monthly emolument is defined to mean total emolument as contained in the employee’s contract of employment, but shall not be less than the total sum of basic salary, housing and transport allowance. Employees are further compelled to retain the fund (comprising of contributions and net income therein) until they reach the age of 50 or retire, wherever is later. The Act nullifies the Pension Act, 1990, the Police and Other Agencies Pensions Offices (Establishment, etc) Act, 1993 and the Police Pension Rights of Inspector General of Police Act 1993. The Armed Forces Pension Act 1990 and the National Social Insurance Trust Fund Act 1993 will be amended and brought up to date to conform to the provisions of the Act. The intent of the Act is to dispense with the un-funded, defined-benefit pension scheme prevalent in the public sector and establish a fully defined contribution scheme for all employees in the Public and Private sectors. The law establishes a mandatory funded contributory Pension scheme based on Individual retirement Accounts for all Federal and Private Sector employees. It covers all private sector organizations with five (5) or more employees to make a minimum contribution of 15% of the emoluments (Annual Basic salary, transport and Housing allowance) to the Retirement savings Account (RSA) of each staff. Such contributions are to be paid into account of the pension Fund Administrator(s) (PFAs) selected by the individual staff with the Pension Fund Custodian (PFCs) nominated by the PFA. The Act establishes the National Pension Commission (PenCom) as the apex Regulatory body for Pension and two main service providers: Pension Fund Administrator (PFA) Pension Fund Custodian (PFC). The reform has created new opportunities in these two service areas from Pensions of both Federal/public sector and the Private Sector employees as well as of various state Governments, who though not mandated under the law, have since initiated the process of enabling similar laws. OAK Pensions Limited is therefore targeted at exploiting the huge potential market awaiting the Pension Fund Administrator under the new law.

CONTACT US :

Call : +234 700 225 5625 / 01-2953095

Whatsapp : +234 818 692 6760

Mail to : info@oakpensions.comWebsite : www.oakpensions.com

[odianoscar]

best app to loan money in nigeria

In today's fast-paced digital age, finding the best app to loan money in Nigeria is of utmost importance for individuals seeking quick and convenient financial solutions. With numerous options available in the market, it can be overwhelming to choose the ideal app that caters to your specific needs. Look no further, the Carbon app is all you need.

When it comes to the best app to loan money in Nigeria, Carbon stands out as a reliable and user-friendly platform. It offers a seamless borrowing experience, making it an excellent choice for those in need of instant funds. With a user-friendly interface and robust security features, it is undoubtedly the best app to loan money in Nigeria.

Carbon provides competitive interest rates and flexible repayment options, making it a top choice for borrowers. If you are looking for an app that prioritizes transparency and convenience, the Carbon app is the perfect fit for you. With its efficient loan application process and quick approval times, Carbon has gained popularity among Nigerians seeking financial assistance. Its user-friendly interface and intuitive navigation provide a hassle-free borrowing experience, and its great customer satisfaction makes it a standout option in the market.

By choosing to use Carbon with their competitive interest rates, flexible repayment plans, and a secure platform to protect your personal and financial information, you can access funds swiftly and meet your financial obligations without unnecessary stress.

Remember, always exercise caution while borrowing money and ensure you have a solid repayment plan in place to avoid any financial difficulties in the future.For more information, Contact Carbon now.