In line with the National Pension Commission (PenCom) updated guidelines on Voluntary Pension Contributions, Trustfund Pensions Limited has notified clients of guaranteed access to their pension funds earlier than it used to be.
In a notification to clients, TrustFund writes,
Dear Valued Customer,
We are pleased to inform you that the National Pension Commission (PenCom) has recently made changes to the Guidelines on Voluntary Contribution (VC) under the Contributory Pension Scheme.
The previous guideline stated that all contributions made by active or mandatory contributors should be retained in the Retirement Savings Account (RSA) for a minimum of two (2) years before access.
The amended guideline, which is now in effect, allows both mandatory and non-mandatory contributors to access the contingent portion of the voluntary contributions after one (1) year from the date the voluntary contribution was made.
Additionally, retirees, exempted contributors, political office holders, employees in an organization with an Approved Existing Scheme (AES), and foreigners are now eligible to withdraw 50% of the voluntary contributions as contingent withdrawal before their employment/contract expires.
For clarification, please contact us via email at [email protected] or by calling 0700-TRUSTFUND, 0700878783863, 02094628400.
