When an employee opens a Retirement Savings Account (RSA) with a Pension Fund Administrator (PFA), that PFA is required to issue periodic statements of account showing how much has been contributed as well as the returns on investment generated from the contributions. Our PFC details are: The Pension Reform Act 2014 requires employers to remit pension contributions on behalf of their employees within 7 working days from the payment of salaries. Kindly note that employees are therefore required to liaise with their employers to ensure that their pension contributions are remitted into their Retirement Savings Accounts. Mathematically, it is arrived at by dividing the contribution received by the fund price of the previous day. Change of name and date of birth require supporting documents for updates while the change of employer details and mobile telephone numbers require confirmation of security checks before the updates can be carried out. Stanbic IBTC Pension Managers Limited Stanbic IBTC Pension Managers Limited is a licensed Pension Fund Administrator that provides innovative pension solutions ranging from pension registration, contribution collection, benefit administration, investment management, voluntary contribution accounts Annuity ; VC Withdrawals ; Annuity ; VC Withdrawals ; Annuity ; VC Withdrawals ; 25 % withdrawal ;! Stanbic IBTC Pension Manager. Plot 1678, Olakunle Bakare Close Victoria Island, Lagos. If you are interested, proceed to the website of Stanbic IBTC and find a form, which explains how to withdraw money correctly and which documents are required therefore. Here are some of the popularly used terms: Contributions Received from Inception: This is the sum of contributions received on your behalf from your employer before any investment activity by us, less N100 Admin fee/month. You may do this by logging on to your account through our website, Provide us with your new employment details. and has remained unemployed for a period of at least four (4) months without securing another employment, such an individual may apply for 25% of his/her current RSA balance. The remaining RSA balance will be accessed at the age of 50 years or at retirement (whichever comes later). This fee is deducted from the total contributions received for each month. We noticed that you have two RSA PINs on our records and due to the First PIN rule you are required to maintain one RSA PIN. Your VC will be credited to your existing RSA and your statement of account will also show the details of your VCs to enable you monitor the growth The full page of the newspaper publication notifying the public of your change of name (Please note that the newspaper page heading must include the name and date of publication as well as the page number). Yes, a retiree receiving monthly pension, who secures another employment after retirement can continue to contribute into his/her RSA         Plot 1678 Olakunle Bakare Close We will implore you to help ensure that the forms are neatly completed and submitted for processing. PW is a payment mode offered by Pension Fund Administrators (PFAs) and regulated by the National Pension Commission (PenCom) while Annuity is a payment mode offered by insurance companies, regulated by the National Insurance Commission (NAICOM). The balance in your RSA will not change due to the movement to the multi-fund structure because the entire balance would be moved to the appropriate fund without charges. I am a public sector worker; I recently discovered that no remittance has been made on my behalf despite regular deductions from my salary? For active/mandatory contributions, tax is limited only to the income earned on such contributions if withdrawn before 5 years. Image source: stocksng.com. However, we are currently liaising with PenCom for the reconciliation of their registration details and pension contributions. How can I determine my next withdrawal date? Stanbic IBTC is an end-to-end financial services provider. 3. Based on the Revised RSA Registration Guidelines released by PenCom in 2018, clients with double RSA PINs are required to complete the Data Recapture Exercise (DRE) using the preferred RSA PIN. Search “Stanbic IBTC” then click on download. The form can also be sent to PensionSolution@stanbicibtc.com with a valid means of identification. Stanbic IBTC Pension Managers Limited was incorporated on 19 May 2004 and is a division of Stanbic IBTC Holdings PLC (one of the subsidiaries of Standard Bank Group). The National Pension Commission (“PenCom”) recently published/released the Amended Regulation on Investment of Pension Fund Assets for the Pension Industry. Why was there a deduction of excess contributions from my RSA? A retiree on PW with a PFA will be able to move to another PFA in line with the Pension Reform Act when the transfer window opens. They greatly contribute to job creation and economic development. What happens to my RSA and contributions when I change employers? However, because each of the Funds are invested in variable income instruments (whose prices rise or fall daily), the unit price of the Funds may appreciate or depreciate over time. The truth, however, is that plan or not, life happens, and life happens really fast. Stanbic IBTC Holdings Plc, the parent body of Stanbic IBTC Pension Managers, has strategised to drive the micro pension scheme and other financial products, through a nationwide enlightenment and awareness campaign tagged: ‘Youth Leadership Series Campus Tour,’ under the aegis of its Youth Leadership Series (YLS). December 9, 2021. This product was made with you in mind. Stanbic IBTC pension account is a convenient way to see all the information related to your pension funds, a customer can open the account in an easy way, just download the form from official website, fill it and submit. SISL is registered by the Securities & Exchange Commission of Nigeria (“SEC”) and licensed on the 24th of June, 1987 by the Nigerian Stock Exchange (the “Exchange”) to deal in securities on the floor of the Exchange. Vc Withdrawals ; Annuity ; VC Withdrawals ; 25 % withdrawal Application ; contact Us before I left Nigeria years. Sms alerts on account transactions such as Pension payments, contributions etc according to the FRC, Stanbic IBTC.! For Public Sector Employees: it is important to note that the National Pension Commission (PenCom) has discontinued the use of documentary evidence for remittance purposes. According to the Pension Reform Act (PRA) 2014, the minimum rate of pension contributions is 18% of monthly emoluments, where 8% is to be contributed by employees and 10% by employers. In addition, the fund prices would be published daily on the websites of the PFAs. Please NEVER give out your … Other value added services provided/rendered by Stanbic IBTC Pension Managers Limited to retirees under programmed withdrawal are: 1. How Have Psychological Disorders Been Portrayed In Movies. Stanbic IBTC Pension Managers Limited is backed by strong and reputable financial institutions Convenience Ease of Account Access via Internet, telephone, e-mail and SMS, as well as ease of retirement pay-outs You should know that; An RSA holder is considered a retiree when he/she attains the age of 50 years and is out of employment. Chief Executive Stanbic IBTC Pension Managers, Olumide Oyetan, said: “As Nigeria’s biggest pension fund Administrator. Re: How Stanbicibtc Pension Paid Me 25% Of My RSA Within 3weeks by PaulSteve: 7:48am On Oct 15, 2015. Yes you can. To this end, you are required to provide your valid RSA pin to your employer for remittance purpose. What are the information I can access via your Short Code services? This should bring you to a page where you are required to enter your complete 12 digit PIN number (starting with “PEN” without space). Stanbic IBTC Pension Managers Limited is a subsidiary of Stanbic IBTC Holdings, a member of Standard Bank Group, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Is it possible to update my details online? If your name has changed on your employer’s records and remittance has been made in the new name, we request you notify us and provide the supporting documents to enable us update your details and credit your account accordingly. closer to retirement) are moved to Fund III which is a moderately conservative fund to ensure sustainable returns on their funds. We're continuously striving to deliver great service. What is/are the requirement(s) for switching from one fund type to another? Stanbic Ibtc Pension Managers Ltd is a pension fund administrator. For example, RSA holders who are 50 years and above (i.e. The payment schedule provided to your employer has a column for VC: this column should be imputed with the amount you choose to contribute as VC. How much tax would be paid on withdrawal? News. Where can I go for enquiries? A Self driven and result oriented corporated young lady Managers Limited to retirees under Programmed withdrawal are: 1 Feedback... Account / SMS alerts on account transactions such as Pension payments, contributions etc visit www.stanbicibtc.com more! The categories of persons exempted from the scheme are: Is the Nigeria Police Force exempted from the Contributory Pension Scheme? Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. We'll assume you're ok with this, but you can opt-out if you wish. Report this profile About Vivian is a self driven and result oriented corporated young lady. 361. Kindly liaise with your employer to include your details on the Nominal Roll to be submitted to PenCom. 500+ connections much could you withdraw monthly … Stanbic IBTC Pension: all you Need to Know pensionsolution @ SIPMLAbeokutabranch. Consequently, the allowable exposures to variable income instruments have been designed such that Fund I has the highest allowable limit, followed by Fund II, III and IV respectively. Self-employed individuals that belong to a Trade, Profession or Business Association, Self-employed individuals with a business registration as a company, partnership or enterprise, Employees operating in the "informal sector" who work with or without formal written employment contracts, Fund I - suitable for active contributors who are 49 years and below with high-risk appetite. 2. At the inception of the Multi-fund structure, Fund I, III and V commenced at a fund price of N1 per unit while the fund types in existence prior to the multi-fund structure continued at their prevailing fund prices. Quick Services; DOWNLOAD THE STANBIC IBTC MOBILE APP. Returns on investment are added to the RSA balance. You may do this by logging on to your account through our website www.stanbicibtcpension.com. Ways to check Stanbic IBTC pension account balance. We typically send your RSA statement/balance of account for each quarter in the first month of the new quarter via SMS, email or post. How do I access my VC as a foreigner/exempted person? Why does the balance of my retirement savings account fluctuate? Stanbic IBTC Holdings PLC, a subsidiary of Standard Bank Group, has reiterated its commitment to promote and invest in disruptive innovative financial technologies that foster sustainable economic growth and financial inclusion in Nigeria. It was founded in 2004, as a subsidiary of Stanbic IBTC Holdings PLC to provide pension fund management and administration services to customers from public and private sector employees. Stanbic IBTC Pension. Stanbic IBTC Pension Managers Limited is a trusted Pension Fund Administrator. Can I change my next of kin or register more than one person as next of kin on my account? @outlook.com. PENCOM ACT. We assure you that where additional remittances are made on your behalf, your account will be credited and you will be notified accordingly. 1. 3. Is a Self driven and result oriented corporated young lady IBTC at Stanbic MOBILE. Stanbic IBTC Pension Mgrs Ltd - Team Lead - Active Payment and Documentation Team; Benefits Mgt Unit Stanbic Bank Jan 2011 - Jan 2014 3 years 1 month. SMS cost N10 only. for members of the vodafone group pension scheme. 70,000 informal sector workers register for micro pension. Do I need to seek an advice from external financial advisor or my PFA before taking a decision to switch? How do I access my pension benefits in my RSA following the recent exemption of the Military and Security Service Agencies from the Contributory Pension Scheme? I. How To Contribute to a Retirement Savings Account According to the Pension Reform Act 2014, your employer is mandated to make contributions from your salary into your Retirement Savings Account starting from July 2014, in the following proportions: Employee 8% and Employer 10%.. Are you an employer? READ : CBN N5 Billion ‘100 for 100 PPP Loan’ Application Portal. A Micro Pension Contributor may choose to contribute any amount towards his/her pension either daily, weekly, monthly or as may be convenient. Notwithstanding the above, employees of organizations with less than 3 employees as well as self-employed persons are entitled to participate under the scheme in accordance with the guidelines issued by the National Pension Commission (PenCom). Stanbic IBTC Dollar Fund aims to provide currency diversification, income generation, and stable growth in USD. What are the other channels to have my details updated? Note that your exit letter should state that you will be returning to your home country. Yes, it is possible ! You can also send an email to pensionsolution@stanbicibtc.com or call our 24 hours a day, 7 days a week multilingual contact centre on 01 2716000 to request for your login details. We look forward to having you join the Stanbic IBTC family! Send a letter to us via our Head Office address: Another window will appear advising you to login with your RSA PIN or registered phone number or email address and Passcode, To retrieve your RSA PIN, Text MYPIN to 30388 via your registered mobile number. Standard Bank Group is the largest African financial institution by assets and earnings. Search “Stanbic IBTC” then click on download. In the same vein, 70% of the firms recorded positive growth across their four different retirement savings account (RSA I – RSA IV) while the industry managed a 2.36% average ROI for the review period. No, Fund III is strictly for active contributors of 50 years and above. West Columbia Animal Ordinances,   This may be because your mobile telephone number has changed and you are yet to update your new phone number on our records. Delve into new markets and generate commercial opportunities Aug 2013 - Jul 2018 5 years of. What is the minimum number of employees for participation in the Contributory Pension Scheme (CPS). Such investments have potentials to generate high returns over the long term but could be risky owing to uncertainty and fluctuations in market prices and returns.         Stanbic IBTC Pension Managers Limited The new investment guideline introduces a multi-fund structure, which would replace the “one size fits all” structure that puts all active contributors into one Retirement Savings Account (“RSA”) Fund without consideration for age or risk profile of such contributors. Contributions for ministries, departments & agencies (MDAs) under Integrated Personnel and Payroll Information System (IPPIS) are remitted by the Office of the Accountant General of the Federation. Mr Mikes Canada, Ibtc at Stanbic IBTC Pension scheme include: ID: Identification University... Head, Cards and Solutions! Fund VI will also commence at N1 per unit. I just retired from active service and would like to withdraw from my RSA, what withdrawal options do I have? Who is exempted from the Contributory Pension Scheme? Stanbic Africa Holdings Limited (SAHL) has increased its equity holdings in Stanbic IBTC Holdings Plc (NGX: STANBIC) via the acquisition of shares of the company worth over N53 million. Enbloc payment where the balance in your RSA is less than or equal to N550,000.00, Our 24 hours a day, 7 days a week multilingual contact center on 01 2716000, Check your RSA balance from your phone using our short code – 30388 or Mobile APP. Please explain what they are and why? How do I withdraw from my contributions under the Micro Pension plan? Has a mature and methodical approach in my daily tasks Since 2002 I. How can I make additional contributions into my account? If I decide to switch from Fund II to Fund I, can I switch back to Fund II? Stanbic IBTC Pension Managers will continue to initiate valuable programs like this that encourage people to continue saving for their retirement and building their financial future. The goal is to ensure that every RSA holder has their pension funds invested according to their age, religious preferences and investment risk profile. What not to do: In compliance with the law, Nigerians are free to collect a certain amount of money from their retirement savings even before they retire. II. The Stanbic ibtc code only works on the phone number (alertz number) that has been linked or registered to your Stanbic bank account. Following the recently released guidelines by the National Pension Commission (PenCom) on the process for Change of Date of birth: All requests for change of Date of Birth by existing RSA holder must first be corrected on the National Identity Management Commission’s (NIMC) database before supporting documentscan be submitted to the Pension Fund Administrator (PFA) for update of its records. Also, note that the funds (if any) in your second RSA PIN will be transferred to your valid pin upon receipt of approval from PenCom. This will be stapled in order to protect the image and avoid mismatch at the point of processing. No, RSA PINs cannot be merged but the funds in one PIN can be moved to another PIN upon approval by the National Pension Commission (PenCom). Whilst you are at liberty to seek advice from external financial advisers, information on our various funds’ performances are published on our website. Approved Existing Schemes are governed by the Board of Trustees who have the right to structure the portfolios in the best interest of the beneficiaries subject to PenCom’s approval. Thank you for your interest in transferring your Retirement Savings Account (RSA) to Stanbic IBTC Pension Managers Limited. Free monthly statement of account / SMS alerts on account transactions such as pension payments, contributions etc. Charles Emelue. In order to switch from one fund type to another, a formal request must be submitted by the contributor to his or her PFA.

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