The Chief Executive Officer of NBC Ghana Trust, Mr. William Asiedu Yeboah, has urged workers, especially those in the informal sector to retire right by investing in pension schemes to enable them enjoy their retirement life.<\/p>\n
Speaking on a wide array of issues about pensions and retirement, Mr. Yeboah said \u201cour traditional norms such as funerals, engagements, and outdooring, among others increase the retirement resources needed by each of us, hence the need to invest now for a better future.\u201d<\/p>\n
Mr. Yeboah added that there is the need to save for retirement, because every working individual will retire one day, this should not come as a surprise. It is important for workers to plan their retirement well and enjoy their old age and minimise the burden on their children and other family members.<\/p>\n
\u201cRetirement is something we all need to consider and start planning as soon as we start our working life. The little we invest today towards our retirement can change our lifestyle, therefore everyone must take pension seriously,\u201d he pointed out.<\/p>\n
The NBC CEO further urged industry players to venture into the informal sector, educate our fellow citizens on pension benefits, the various products or services and enroll them for a secured future.<\/p>\n
The informal sector workers constitute about 80% of the working population and pension administrators have not been able to enroll most of them onto any retirement package. This, according to Mr. Yeboah provides an opportunity for the private sector pension administrators.<\/p>\n
Touching on the operations of pension administrators, Mr. Yeboah stated that NBC Ghana Trust has the most robust operating system in the industry.<\/p>\n
He explained that \u201cwe have invested so much into building a very robust system that can be used to manage huge data in the country. With the growing number of clients, it is important we invest in building this kind of system so we can serve our customers better.\u201d<\/p>\n
Mr. Yeboah added that all pension administrators have similar products and services, however, \u201cwhat distinguishes us from the rest is our operating system and the technical support we receive from our partners.\u201d<\/p>\n
According to him, the company will keep investing in its systems with trending technology to ensure that clients are satisfied.<\/p>\n
NBC Ghana Trust Limited is part of the NBC Group, a leading force in the African Employee Benefits and Retirement Industry. NBC Group provides a comprehensive range of products and services including retirement fund administration, consulting, and actuarial services to over 140 registered pension and provident funds with more than 600,000 members.<\/p>\n
About NBC Ghana Trust <\/strong><\/p>\n NBC Holdings Limited has its origins from the mid-80\u2019s when it championed the establishment of defined contribution schemes in South Africa, a trend that accelerated during the late 80\u2019s and early 90\u2019s as trade unions gained more influence and companies took advantage of the commercial certainty offered by defined contribution funds in the context of legislative changes regulating inter alia financial reporting of Defined Benefit pension fund liabilities.<\/p>\n NBC Ghana was incorporated in November 2009 as a joint venture between South African investors and a local Ghanaian investor, MAY International Holdings Limited. The company\u2019s primary goal is to participate in Ghana\u2019s Employee Benefits Market by providing administration and consulting services, building and strengthening capacity and skills to provide solutions to our client\u2019s needs.<\/p>\n NBC Ghana offers Administrative Support Services to all sizes of companies from small to large corporates, that wish to establish their own \u201cin-house\u201d scheme(s). It offers consulting and actuarial assistance.<\/p>\n The objective for the in- house scheme is to enable an employer maintain control over its assets under the scheme whilst using the skills and quality standards of the professional administrator.<\/p>\n The NBC Ghana Master Trust Scheme is designed as a mandatory, work-based Master Trust Scheme which offers simple, flexible and cost-efficient retirement savings for employees of medium to small employers to benefit from the economies of scale.<\/p>\n It provides lump sum benefits on retirement, invalidity and death to members as prescribed in the National Pensions Act, Act 766. NBC Gold Plan is a Personal Pension Scheme product to cater for the savings and retirement needs of the individual contributor, either as a formal worker or an informal worker.<\/p>\n Credit: NBC Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The Chief Executive Officer of NBC Ghana Trust, Mr. William Asiedu Yeboah, has urged workers, especially those in the informal sector to retire right by investing in pension schemes to enable them enjoy their retirement life. Speaking on a wide array of issues about pensions and retirement, Mr. Yeboah said \u201cour traditional norms such as […]<\/p>\n","protected":false},"author":14,"featured_media":407970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[32],"tags":[],"yoast_head":"\n