Many Retirement Savings Account (RSA) holders are asking questions since the formal launch of the Pension Transfer Window by the National Pension Commission (PENCOM) on November 16, 2020.
Their questions bothers on what distinguishes a Pension Fund Administrator (PFA) from the other, and what should influence choice and movements.
But here expert, Wale Odutola, managing director, ARM Pension provides insights into the key differentiating elements that are likely to influence choice of one PFA to the other.
According to him, these elements becomes the competitive qualities that PFAs are going to work on, which brings additional value to the RSA holder and for the larger pension industry.
Wale said, “For every RSA holder planning to make a move, I’ll advice that such a person seeks out a PFA with an excellent management team, a good investment track-record and notable years of experience.”
RSA holders should not ignore the history books. Ensure that the PFA you move to have rigorously managed pension fund assets and remained consistent with paying out higher returns to the retirees whose fund they manage” said Wale.
Every word from Wale is laced with concern for the RSA holders who he hopes will make the right choice of PFA but you will also detect a seriousness that comes from decades of managing a firm that has consistently delivered on the criteria he is speaking about.
According to him, ARM Pension has since inception, delivered consistently positive returns on Retiree funds with no negative years irrespective of the economic situation of the nation.
With an experienced and competent management team, ARM Pensions has recorded historical annual returns on managed retirement funds with average returns significantly higher than the long-run average inflation rate of 12 percent, he said.
With ARM Pensions equipped with the ISO certification for information security, he believes that after years of hard work, an RSA holder should not put the safety of their data and funds in jeopardy. He advises strongly on choosing a PFA with an airtight information security protocol in place.
In addition to the above, Wale says to RSA holders “It is my humble suggestion that you do business with a PFA that has a responsive customer relationship team that you can reach easily, online and offline, and aside from providing core functions of managing your pension funds, your PFA should go above and beyond to provide you with retirement planning tools, tips, and more to help you prepare for a fulfilled retirement.”
ARM Pension is notable for sponsoring bi-yearly run/walk fitness events in a bid to encourage everyone on the journey towards a healthy retirement to be in great shape to enjoy the wealth accumulated during their working years. ARM Pensions also has a user-friendly lifestyle planner that helps you literally take a Walk Into Tomorrow, RSA Holders can confidently plan out their desired retirement to avoid being taken unawares.
“For us at ARM, going the extra mile and continually exploring opportunities to ensure comfort in retirement for the people who entrust us with their funds, remains our priority always,” says Wale.
