Pensions, Provident and Welfare Funds Management
Planning towards your retirement has become more important because we are gradually shifting away from the extended family support system and one may not be able to solely depend on his/her children for financial support. Additionally, increased life expectancy, due to improved lifestyle and medical care, calls for more money to finance post retirement expenses.
The result of not planning toward retirement is that you will experience a shortfall in income and run into the risks of not being able to maintain a comfortable lifestyle during retirement. The onus is therefore on you to begin planning for retirement.
We at Blaze Financial offer flexible and tailored solutions – where an individual employee, group of employees or employers together with employees can make extra pensions contributions aside the mandatory tier 1 and 2 and the employer sponsored tier 3 scheme.
These contributions then grow into a lump sum (pension fund) that will provide you with pension benefits when you retire.
It is characterized by the following features:
- Individuals that are not in group schemes can save for retirement
- Formal or Informal Organized Groups (Driver’s Association, Market Women Association, Second Hand Dealers etc.) can save for retirement
- Flexible contributions
- Normal Retirement age is 60 years (early/late retirement possible)
- Members can withdraw from their investment account before retirement age.