Access Pensions has added personalised financial planning services to help its customer enjoy smooth and comfortable transition to retirement.
Dave Uduanu, managing director, Access Pensions said the financial future of its customers is a priority and with its in-house expertise clients can get this additional service.
Uduanu who unveiled this during an interactive session with some of its high-networth individual clients in Abuja tagged ‘An Evening with Access Pensions’ said many individuals enter retirement without proper preparation.
“It is crucial to start planning for retirement as early as possible, ideally beginning to consider post-retirement plans should start around the age of 40. Neglecting to evaluate your cash flow, lifestyle and expected post-retirement expenses can lead to challenges in sustaining yourself during retirement.”
According to him, when discussing retirement and pension, it is essential to address three critical concerns before retiring: housing, children’s education, and healthcare. While healthcare falls outside the purview of our industry, it remains a crucial aspect to consider in retirement planning.”
Uduanu added that this personalised financial service is to ensure that your retirement funds serve their intended purpose, as your pension, and are not depleted by rent, school fees, or healthcare expenses.
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He also added that housing needs can be addressed through their RSA Mortgage equity support, while comprehensive financial planning tackles education concerns.
During the event, other partners of Access Pensions were able to showcase complimentary services that can boost the financial well-being of the clients.
As part of the Access Corporation ecosystem, clients can access a diverse range of services including from Coronation Insurance and Coronation Trustees, which extends beyond pensions, encompassing overall financial well-being.
Access Pensions also offers its customers, wealth advisory and financial planning as part of its value-added services.
Uchenna Edeh, regional head of Corporate Team, Access Pensions, identified three distinct stages of retirement, each with its own characteristics.
The initial stage is characterised by ample resources, followed by a stage where resources begin to deplete, leaving the retiree reliant on retirement funds. Finally, in the last stage, expenses tend to increase significantly, often driven by healthcare expenditures.
Edeh therefore emphasised the significance of financial planning across all these retirement stages, he said: “Recognising the importance of proactive financial management is crucial to ensure a secure and comfortable retirement throughout each phase”.
At Access Pensions, we can offer our customers at no cost financial planning to help ensure that at retirement customers’ lives are comfortable. This plan is tailored to suit customers’ income and expectations of retirement and cater to the needs of the various stages of retirement.”
Wale Okunrinboye, chief investment officer, Access Pensions stated that the PFAs investment approach is disciplined, quantitative, and backed by extensive research to ensure it gets the best value for their pension.
“We adopt a very disciplined and quantitative approach to investment based on very strong research and strategy. We carry out top-down research on every security we place monies in. In addition, our robust investment management program is distinguished by its unwavering commitment to risk management and compliance in every aspect of our operations.”
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