For many Nigerians, saving for retirement has been a challenge, but pension offers now expand to meet diverse needs.
The Personal Pension Plan (PPP) allows self-employed and informal sector workers to contribute at their own pace.
Expanding Pension Access To Nigerians
Meanwhile, employees in the formal sector can make voluntary contributions beyond mandatory pension requirements.
Participants can withdraw up to half of their savings after three months if needed.
At the same time, remaining contributions grow tax-free after five years, offering flexible investment options tailored to individual financial goals.
Protecting Savings Globally
Similarly, Nigerians earning in foreign currency can take advantage of the Foreign Currency (FCY) Pension Contributions framework.
This option protects savings against currency depreciation and opens access to global investments, including Eurobonds, Global Depository Notes, and ETFs.
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Partial withdrawals are possible after six months, while long-term balances remain preserved for retirement.
Additionally,contributors can receive benefits in US Dollars or convert them to Naira when preferred.
Building A Secure Future
The reforms reflect the evolving nature of Nigeria’s workforce and the increasing global mobility of Nigerians.
Consequently, Stanbic IBTC Pension Managers actively supports workers through expert guidance, digital solutions, and transparent processes.
With over 20 years of industry leadership, the company champions inclusion, trust, and lifelong retirement planning.
Ultimately, these reforms ensure that all Nigerians can confidently build a secure, dignified future, regardless of where or how they earn.
