₦airaland Forum

A branch in *AIICO PLC* is in need of *Investment Sales Executives/ Financial Advisors* to help maintain a strong and sustainable sales strategy. Individuals will get and surpass business expectations and contribute to our company’s rapid and sustainable growth.


*REQUIREMENTS*
�ND/NCE/HND/Bsc degree in any field
�No experience needed as there will be training.
�Self motivated with a result driven approach.
�Strong analytical, time management and creativity skills.
�Good communication skills.
�Strong ability to focus on customer and take initiative experience with social media.
�Entrepreneurial mindset and high level of business acumen.

Remuneration: Good

*Application Procedure*
Qualified and interested applicants should forward their CV to *aiicosales.hr@gmail.com* with the job title as subject of the mail.

Note: APPLICANTS MUST RESIDE IN Lagos Mainland.

Shortlisted candidates amongst qualified candidates will be contacted.

Deadline: February 20th, 2022

A branch in *AIICO PLC* is in need of *Investment Sales Executives/ Financial Advisors* to help maintain a strong and sustainable sales strategy. Individuals will get and surpass business expectations and contribute to our company’s rapid and sustainable growth.


*REQUIREMENTS*
�ND/NCE/HND/Bsc degree in any field
�No experience needed as there will be training.
�Self motivated with a result driven approach.
�Strong analytical, time management and creativity skills.
�Good communication skills.
�Strong ability to focus on customer and take initiative experience with social media.
�Entrepreneurial mindset and high level of business acumen.

Remuneration: Good

*Application Procedure*
Qualified and interested applicants should forward their CV to *aiicosales.hr@gmail.com* with the job title as subject of the mail.

Note: APPLICANTS MUST RESIDE IN Lagos Mainland.

Shortlisted candidates amongst qualified candidates will be contacted.

Deadline: February 20th, 2022

Pension gives you guaranteed income for life. Even after retirement, you can continue to earn a pre-determined income from your retirement for life even if you are not on a 9-5 job.

Are you a Business man, Entrepreneur, self employed or even employed? You can subscribe for a private pension plan with a life insurance company. The company will put you on an annuity plan that you will contribute a calculated amount quarterly, semi annually or annually... And at retirement you earn an handsome amount guaranteed for life.


Many life insurance companies are available for you. Just ask an expert to guide you or chat us.

Statistics has it that 8 out of 9 Nigerians in the working population have no Retirement plan. And will retire broke!

Do the right thing now... its the best legacy you can keep for your future

I can do a calculation for you now.

Benjamin Eyeyeh
Retirement and Investment Expert
AIICO PLC

ANNUITY (AP) VS PROGRAM WITHDRAWAL (PW)

The 2014 Pension Reform Act allows a retiree under the scheme to elect between sticking with a PFA’s Program Withdrawal or a Pencom Regulated Annuity from a Life Insurance company.

At retirement, the retiree gets guaranteed monthly or quarterly basis pensions. Below are the Similarities and Disparity between them.


APVS PW

Similarities: 
1. The two plans guarantees monthly or quarterly pension to retirees. 

2. The two plans are not Taxed.

3. The two plans are backed by the 2014 Pension Act and are overseen by both PenCom and NAICOM.


Disparity:


1. A retiree on PW can opt out and sign up for the Annuity plan from an Insurance company but a retiree who has opted for Annuity at the beginning cannot choose PW later on.

2. With the Annuity, if a retiree dies before the expiration of the minimum guaranteed period of 10 years, his or her beneficiary will receive the pension benefits up to the guaranteed period of 10 years from the start of the Annuity contract. But if the death occurs after the guaranteed period, no payment is made to the beneficiary. On the other hand, a retiree beneficiary under the PW will receive whatever balance that is left in the RSA of the deceased retiree irrespective of the year of death. 

3. A retiree that opted for the PW has the opportunity receive minimum pension provided he or she has satisfied the \requirements to receive minimum pension under the CPS. But a retiree who has opted for Annuity cannot receive guaranteed minimum pension. This is because guaranteed minimum pension is under the regulation and control of PenCom while the Annuity product is under the regulation of NAICOM.

4. A retiree on PW can have his or her monthly pension reviewed upward periodically in accordance with the directive of PenCom based on the fact that his or her RSA balance is also expected to grow as a result of profitable investment decisions being made continuously by the PFA on his or her behalf. On the other hand, Annuity payments are fixed and may not be reviewed upward.


5. Annuity payments are clearly higher than PW payments. This is understandable as Annuity product has a minimum guaranteed period while PW has no limit. 

6. A Retiree under the PW can move  his RSA balance to another PFA in accordance with the transfer window guidelines after one year. However, a retiree who has opted for Annuity can also move to another provider only after 2 years.

7. A retiree under the PW receives a periodic statement of account showing the balance in his or her RSA from the PFA but a retiree under the Annuity contract does not receive statement of account because the Annuity pool is not customized to an individual.

8. The Retiree bears the longevity risk in PW i.e. if the funds dwindle before death and a case of no fund occurs the Retiree bears the risk. This is though a rare event. But for Annuity the Life Insurer bears all the risks, So the funds are guaranteed for life.

In conclusion, both Annuity and PW allows a retiree to draw monthly pensions which can last up to the entire duration of the retiree existence. They also have some striking differences which should be considered before opting for either options.

My take? Annuity is the Better plan.

If you have any questions or comments, feel free to chat with us on Whatsapp.

You can convert your TAX money into funding your retirement plan.


By law in Nigeria, when you buy the deffered Annuity Plan (Retirement Plan) you will qualify for an annual TAX rebate that can fund your retirement plan.

Take a look at the law:-
Section 33(3) of the Personal Income Tax Act (PITA), 2011 as amended provides for tax deductibility of premium on deferred annuity on an individual’s life or their spouse.


Section 33(3) of the Personal Income Tax Act (PITA), 2011:-
"There shall be allowed a deduction of the annual amount of any premium paid by the individual during the year preceding the year of assessment to an insurance company in respect of insurance on his life or the life of his spouse, or of a contract for deferred annuity on his own life or the life of his spouse."

In simple terms, convert your TAX payment into funding your retirement plan.

Don't just throw away your money. Buy a deffered annuity plan and get the Tax money into funding it.

Lots of people are enjoying this provision.

To ask me how... Check my Signature.

10 truths and tips about Retirement.

1. Retirement a Must!

2. Imagine this: You, not working. What will you fall back on?

3. Start preparing for retirement early.
Retirement plans are cheaper when bought early.

4. Save money at every opportunity. Get an RSA.

5. Go beyond the workplace Retirement plan for you.

6. Save strategically and allocate assets wisely.

7. Buying retirement plans can reduce your TAX significantly.

8. Steer clear of emotional investing. Avoid gaseous and liquid investments.

9. Consider Insurance to help reduce your worries.

10. Seek professional help.

Check my signature for more info.

Man utd buy Goat, Liverpool use the Goat do Salah

You can get 25% before Retirement

You did a fine job on the topic....

You misconstrued my topic....

We still have pension v annuity...

There some self employed who don't have a cac or not under any name cannot buy a pension plan by law.

Pension is compulsory by law but some people are not eligible to buy pension so they can buy a private annuity from an insurance company.


I am aware of the types of breakdowns...
My topic should have been...

Pension( programmed withdrawal or Annuity) versus Annuity (Insurance company based)

PapaGfad:
As a pension consultant myself, I would love to make a contribution to your post on what is omitted. So here I go

Pension like he said is for everyone and infact compulsory for all working class. Be it private, self-employed or public worker, you are meant to have an RSA account. It is just government's way of applying common sense to avoid thousands of unkept elders above 60years of age. Sorry if my description is demeaning but that is the reality.

So, as the main point of my contribution and as far as pension is concerned according to the PRA2014, there are two programmed options for you as a citizen to take when it it time to start receiving pension and they are; PROGRAMMED WITHDRAWAL and ANNUITY. And not pension and annuity as suggested by my colleague. His enthusiasm to offer you the best option probably got the best of him, so, do not crucify him.

It is your right to be duely informed on the two options, and while we will not deny you that, I leave you with these two powerful statement and I hope you make sense of it.

1. The insurance sector today as it is in Nigeria is one of the best and solidly regulated industry in Africa(u can call it an exaggeration) but my point is for as long as the PRA2014 is concerned, regardless of whether you are in annuity or pw, the money in your RSA remains solid.

2. As a consultant, knowing fully well that nothing operated by men is 100% perfect, d shortcomings of pw remains unpromising hence, I will urge you to choose ANNUITY.

GOD BLESS YOU ALL.

What's the Difference Between a Pension and an Annuity?

If you don’t have a pension, an annuity can be a great option to generate reliable retirement income.

Long before we had things like smartphones and Instagram, your career typically revolved around a single employer.

You worked for one company for decades and then, when you retired, with little to no action on your part, your company would provide you with a pension — payments that would come regularly for the rest of your life, no matter how long you lived.


Today, outside of government jobs, pensions are about as common as phone booths. If you don’t have a pension, but the idea of getting a regular payments for the rest of your life is appealing, you may want to consider an annuity. Like pensions, annuities also provide income for life, but they don’t work quite the same. So what’s the difference between a pension and an annuity?


WHAT IS A PENSION?
A pension is a retirement plan that’s offered through an employer. Pensions are known in the industry as defined benefit plans.

With a defined contribution plan, the contribution made by the company is defined — perhaps you contribute 8 percent of your salary and your company/government pays 10% of your contribution according to the Nigeria’s PENSIONS Act of 2014. However, when you get to retirement, it’s on you to decide how you’ll generate income with all the money you saved.

With a defined benefit plan, your benefit (how much you’ll get in retirement) is defined. You don’t have to worry about contributions or even how to create the income. Your company will just send you a pay every month.

In addition, many pensions will give you options for structuring your payments so that they continue in some form for your spouse after you pass away. You may also be able to take a single lump sum payment from your pension and use the money however you see fit. However, that means you’ll be responsible for generating your income, and you could run out of money someday.

Pensions are insured by a Government agency that will try to get you as much of your pension as possible if the company that backs it goes bankrupt.




WHAT IS AN ANNUITY?
Annuities are financial products built by insurance companies. They come in two main forms: annuities that help you save for retirement and annuities that provide steady income, usually in retirement. For the purposes of this article, we’re going to focus on the ones that help provide income in retirement. They’re known as income annuities.

Here’s how it works. You make a payment to an insurance company, often a portion of your retirement savings. Once you purchase the income annuity, the insurance company will make regular payments back to you over time, usually for as long as you live. That means you could live until you’re 110 or older without having to worry about running out of money.

As with a pension, once you start receiving income from an annuity, you don’t have to worry about how that income is being generated. The insurance company handles all that for you. it’s a good idea to work with a trusted financial advisor to make sure you get the right annuity for you.

As you can see, while there are some differences between pensions and annuities, the purpose of both is the same: to provide steady retirement income that you can’t outlive. If you don’t have a pension and are interested in guaranteed income for life, an annuity may be the right option for you.
Income annuities have no cash value. Once issued, this annuity cannot be terminated (surrendered), and the premium paid for the annuity is not refundable and cannot be withdrawn.

My verdict: Annuity is the best form of all the retirement plans.

Call or Chat me up to get the best retirement plan for you!

Benjamin Eyeyeh
Retirement Expert
WhatsApp 08-03-88-219-35

We have the Children University Education plan and the Salary for life plan combined as one!


Have you wondered why our pensioners/senior citizens don't queue up again to collect their entitlements.

The reason is because our companies are now in charge!

Pensions are paid promptly and verifications are now digital and very efficient...

Two major things brings down a person financially:
1. Lack of Financial planning
2. Increased responsibility


At age 50-60, your two to four children will be talking about University education...

Your earnings at that time may not be able to carry this responsibilities together with other expenses.

My Company has a plan that caters for your children's university education and pays you salary for life there after... Offering you guaranteed earnings for life.

Ask me how...

You pay a token now and earn millions yearly for life...

Chat Me up now!

Benjamin Eyeyeh
Retirement expert
WhatsApp
0-8-0-3-8-8-2-1-9-3-5


My company is a foremost financial Investment company in Nigeria. It's a PLC regulated and registered under the CBN.

In Nigeria since 1963 and also present in 60 countries of the world.

Our SALARY FOR LIFE PLAN/ Special Retirement Plan

Let us help you prepare for your retirement.

As your retirement age or end of your service years draws closer, you can convert some or all of your pension into our Salary for life plan that will give you guaranteed income for the rest of your life. You will get paid regularly like a salary.

There are two kinds of plans to suit your needs. These are:

1. DAP Salary for life plan:-
This plan encourages self-discipline by saving for the rainy day. You can determine your earning at retirement and fund it effectively. There is a death benefit of a multiple of 5 times annual earnings payable to your preferred beneficiaries.☘️

2. IAP Salary for life plan:-
This can be taken if you have a bulk sum and want to receive your earnings immediately. This forestalls the risk of frivolous spending and secures a source of income when one is weak until death. This plan also includes the option for a spouse to continue receiving 75% of your benefit after the policy holder’s demise.☘️

Benjamin Eyeyeh
Retirement expert
WhatsApp 08-03-882-1-9-35

Third party Car Insurance versus Comprehensive Car Insurance.

THIRD PARTY CAR INSURANCE

Important Facts about the Third Party Car Insurance

1. It is referred to as a 'third-party' cover since the beneficiary of the policy is someone other than the two parties involved in the contract (the car owner and the insurance company).

2. It doesn't cover the policy holder directly. In the event of theft or fire damage of the insured car this plan doesn't cover for any of such. The policy does not provide any benefit to the insured. However, it covers the insured's legal liability for death/disability of third-party loss or damage to the third-party property.

3. Usually less than N500,000 total value of cover.

4. Very cheap to purchase. Bought from around N5,000 or less depending on the Insurance company.



COMPREHENSIVE CAR INSURANCE

10 Massive Benefits of Comprehensive Car Insurance.

1. In the event of theft of the car, You will get your car replaced outrightly.



2. In the event of complete damage by fire, You will also get your car replaced outrightly.



3. You will get up to N5,000,000 for the property or vehicle destroyed as a result of the accident by the insured Car.



N.B. The plan covers every party involved in an eventuality caused by the insured.



4. You get paid 2.5% of your car value when the vehicle is damaged as a result of an accident for repair.



5. You get paid upto N500,000 guaranteed , should there be medical treatments to Passengers and Drivers involved with the insured car.



6. In the event of accident, You get up to N50,000 for loss of personal effects.



7. You get car assessories in the event of accident/theft/vandalism replaced.





8. You get up to N15,000 for hiring other cars for the sake of accident of your car.



9. You get up to N50,000 for towing your car as a result of accident.



10. Our company repair bodily injury of the 3rd party involved i.e. other vehicles hit by your insured car.



Act wisely... Chat me up!



Benjamin Eyeyeh

Insurance, Investment and Retirement Expert

WhatsApp 08-03-88-219-35

WHY YOU NEED AN EDUCATION POLICY
FOR YOUR CHILD.



1. Your Child’s Future is Guaranteed!

With or without you in the future.

Your goal of the best education

for your children is guaranteed.

Usually, a Sum Assured is determined

and payable at maturity of the plan.





2. Invest little and get Much

Technically, you get so much buying

a children education policy.

For instance, getting as much

as 40% yearly ROI on your policy.

And so much more.



3. Visa Advantage

A proper Children Education Plan

has a Visa advantage for your children.

Embassies and consulates hold in

high esteem Children Education Policies

if presented for Visas applications.



4. Rising cost of Education

With the rising inflation rates,

which has triggered a rising cost of living.

Your children’s funds in the policy grow

Just as inflation does.



Make a wise choice today!



Benjamin Eyeyeh

Insurance, Investment & Retirement Expert

WhatsApp 0803-8821-935

https://docs.google.com/forms/d/1z6KMmyROJjwt9K-MkXKbqgpJ9gurtyG-YkCRP1pQyAU/edit

Interesting Facts About RETIREMENT PLANS That You Probably Didn’t Know

1. A PRE-COVID STATISTICS
In Nigeria, eight out of every nine working Nigerians do not have a retirement plan and will retire BROKE! (NBS figures)

2. YOU PAY LESS TAX IF YO U HAVE A RETIREMENT PLAN!
Do you pay Taxes?
You can reduce how much you pay as Taxes
when you sign up for some kinds of Retirement plans.
(Ask me how)

3. INFLATION IS NOT A PROBLEM
Do you know that some Retirement Savings are computed in Compound Interests.
Your investment is guaranteed even in the midst of this strong inflation as
the savings grows geometrically.

And remember it is salary for life.


4. RETIREMENT PLANS ARE CHEAP & FLEXIBLE
You don’t need serious paper works,
off course it is easy for Students, Business people, Civil servants, Private company workers etc. Usually for Age 20 to 68.

Its flexible because you can pay in any frequencies i.e. annually, semiannually, quarterly etc.

There is huge 52% discount when you pay a simple lump sum.

5. IT’S THE NEW OIL
From a look at the present realities,
In this present era of dwindling ROIs in shares, bonds, Treasury bills etc and embargo on crytos, many Nigerians have resorted to this new oil well and have greatly moved towards this direction as it’s a major avenue to protecting their wealth and earning huge ROIs.

6. RETIREMENT PLANS ARE HIGHLY PROFITABLE

Compare what you pay i.e. your annual premiums to what you get at retirement for life.

For example, I have a client who paid in a single one off payment of N10,000,000 at Age 40 now and He will be paid N6,000,000 every year for life from age 55 by my firm.



And a death benefit of N30,000,000 Is paid to his preferred beneficiary (e.g. His children, spouse etc) if He dies after the plan matures at 55, plus other benefits.


7. MASSIVE DEATH BENEFIT

Your preferred beneficiary gets huge death benefits which will greatly put Children, Spouse and Family members back on their feet again.



8. PEACE OF MIND ABOUT THE FUTURE

It is very true that Retirement plans gives you focus, rest of mind and ability to invest in other investment plans wholeheartedly.

LIMRA, a global financial services and insurance association, found that 50% of workers who have a written plan feel very prepared for their retirement.




For Expert advise chat the author.


By
Eyeyeh Benjamin MSc
Investment and Retirement Expert
WhatsApp 08-0-38-821-9-35

Secure your Retirement!

Secure the Future!

...

Secure the future

Quit now
Get more knowledge of the business...
Raining season though not good for the business.
But start on a low-key by the dry season they should know you by them....

You need a truck in the long run
And your location should be a new site