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Frequently Asked Questions

Making a Voluntary Contribution

Making Voluntary contribution banner

Voluntary Contributions (VCs) are additional contributions that can be made alongside the mandatory contributions remitted by your employer to your Retirement Savings Account (RSA). To make voluntary contributions, all you need to do is inform your employer to make the necessary deductions from your monthly salary. It’s that easy. Our RSA Calculator can also guide you on how much you can remit as VC

Some of the benefits

Convenience

You can transact from anywhere with our online platforms (Mobile App and Web Portal)

Diversification

Our Mutual Funds mitigate investment risks by investing across a diverse range of assets thus avoiding concentration risk

Flexibility

Our array of investment products are designed to suit your financial needs. You can easily subscribe for/and redeem your investments

Security

Invest with us with the knowledge that your investment is safe
Eligibility criteria
  • Employees of Private and Public Sector employers with an existing Retirement Savings Account under the Contributory Pension Scheme
  • Employee currently remits the mandatory portion. 
What Should I Know
  • Voluntary Contributions can be any amount of your choice as long it is from your legitimate income and not more than 1/3 of your monthly salary. 
  • Voluntary Contributions is deducted from your salary before tax, therefore reducing your whole tax liability 
  • Voluntary Contributions s retained in your account after 5 years will not be taxed at the point of withdrawal 
  • Voluntary Contributions cannot be remitted alone, it must be remitted with the mandatory contribution. 
  • Voluntary Contributions can only be remitted by the employer, alongside the mandatory contribution. 
  • You can access 50% of your voluntary contributions after it has stayed in your account for at least 2 years. The remaining 50% will be used to augment your benefits at retirement. 

You can  download a Copy of the VC Application Form and Checklist  below

 

  • Eligibility criteria
  • What Should I Know
  • Employees of Private and Public Sector employers with an existing Retirement Savings Account under the Contributory Pension Scheme
  • Employee currently remits the mandatory portion. 
  • Voluntary Contributions can be any amount of your choice as long it is from your legitimate income and not more than 1/3 of your monthly salary. 
  • Voluntary Contributions is deducted from your salary before tax, therefore reducing your whole tax liability 
  • Voluntary Contributions s retained in your account after 5 years will not be taxed at the point of withdrawal 
  • Voluntary Contributions cannot be remitted alone, it must be remitted with the mandatory contribution. 
  • Voluntary Contributions can only be remitted by the employer, alongside the mandatory contribution. 
  • You can access 50% of your voluntary contributions after it has stayed in your account for at least 2 years. The remaining 50% will be used to augment your benefits at retirement. 

You can  download a Copy of the VC Application Form and Checklist  below