Personal Pension Plan
The Personal Pension Plan (PPP) is designed for formal sector employees, self‑employed individuals, informal sector workers, members of the Armed Forces and Intelligence Services, as well as parents or guardians registering minors, allowing all categories of contributors to participate in the scheme and save towards a secure and fulfilling 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
- Formal sector employees who want to make personal contributions to boost their Retirement Savings Account (Private, Public and State workers).
- Self-employed individuals (e.g., business owners, freelancers, professionals).
- Informal sector workers (e.g., artisans, traders).
- Members of the Armed Forces, Intelligence, and Secret Services (previously exempted under Section 5 of PRA 2014).
- Parents or guardians registering children or wards under 18 years (ownership transfers at 18).
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 50% of your contributions after 3 months of the initial deposit.
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Eligibility criteria
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How to Register
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What Should I Know
- Formal sector employees who want to make personal contributions to boost their Retirement Savings Account (Private, Public and State workers).
- Self-employed individuals (e.g., business owners, freelancers, professionals).
- Informal sector workers (e.g., artisans, traders).
- Members of the Armed Forces, Intelligence, and Secret Services (previously exempted under Section 5 of PRA 2014).
- Parents or guardians registering children or wards under 18 years (ownership transfers at 18).
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 50% of your contributions after 3 months of the initial deposit.
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 2 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
In accordance with the Pension Reforms Act (PRA) 2014, employers are required to make contributions to the Retirement Savings Account (RSA) of their employees. The minimum is 10% for the employer and 8% for the employee. Following the introduction of the new platform by the National Pension Commission in collaboration with the approved Payment Solution Service Providers (PSSPs), payments must be made through the Online Pension Contribution Remittance System (PCRS). These payments are exclusively made by employers and are credited to the RSAs of employees once processed through the Online PCRS.