Nigeria
Micro Pensions Account
Micro Pensions is specifically designed for the individuals in the informal sectors, so that they can also participate and benefit from the scheme towards a blissful retirement
Some of the benefits
Safety
Stanbic IBTC Pension Managers Limited is backed by strong and reputable financial institutions
Convenience
Ease of Account Access via Internet, telephone, e-mail and SMS, as well as ease of retirement pay-outs
Track Record
The Stanbic IBTC Group has been managing funds for companies and individuals for over 2 decades
Returns
Enjoy good and competitive returns on your pension investment
Eligibility criteria
- Self Employed
- Persons working for organizations that are unstructured (registered or unregistered)
- Persons with irregular income and
- Persons with limited or no access to financial services
How to Register
To open a Micro Pension Account, you would need the under listed
- A Completed RSA Registration Form
- A Passport Photograph against a white background
- Your Means of Identification (National Identification Management Commission (NIMC) Slip, Permanent voters' card or international passport)
Or any of the following
- Bank Verification Number (BVN)
- Evidence of membership of a registered association, union or cooperative society
- Letter of Employment
What Should I Know
- Your Personal Identification Number (PIN) will be generated upon registration and you will be advised via SMS or email.
- You can contribute to your retire well account at periodic intervals (weekly, monthly or quarterly)
- All your contributions are invested on your behalf so your funds would continue to yield returns.
- You can access the contingent part of your contributions, which is 40% of the amount contributed.
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Eligibility criteria
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How to Register
-
What Should I Know
- Self Employed
- Persons working for organizations that are unstructured (registered or unregistered)
- Persons with irregular income and
- Persons with limited or no access to financial services
To open a Micro Pension Account, you would need the under listed
- A Completed RSA Registration Form
- A Passport Photograph against a white background
- Your Means of Identification (National Identification Management Commission (NIMC) Slip, Permanent voters' card or international passport)
Or any of the following
- Bank Verification Number (BVN)
- Evidence of membership of a registered association, union or cooperative society
- Letter of Employment
- Your Personal Identification Number (PIN) will be generated upon registration and you will be advised via SMS or email.
- You can contribute to your retire well account at periodic intervals (weekly, monthly or quarterly)
- All your contributions are invested on your behalf so your funds would continue to yield returns.
- You can access the contingent part of your contributions, which is 40% of the amount contributed.
We also offer
Transfer Information
Welcome! Are you considering becoming a member of the Stanbic IBTC Family? We’d love to have you on board. With us, your RetireWell is sure, your fund safety is guaranteed and access to your account is at your fingertips! With over 1.8 million clients, we have vast experience in fund management which our retirees can attest to. We also ensure we remain accessible to you with numerous office locations nationwide and multiple touchpoints from which you can contact us.
Contributing to a Retirement Savings Account
Your employer is mandated by the Pension Reforms Act (PRA) to make contributions from your salary into your Retirement Savings Account (RSA) in the following proportions: Employee 8% and Employer 10%. These contributions are made to our bank account on your behalf and a schedule of contribution detailing beneficiaries of the contributions as well as their RSA details