Tuesday, 14 January 2014
BEST GREETINGS TO EVERYBODY.
As we celebrate Idl - Moulid, the birthday of Prophet Muhammed (SAW), I wish all Muslims the blessing that is associated with the celebrations. We must not forget to use this celebration to accommodate one another and pray for peace.
Saturday, 11 January 2014
Salary Earners Forum: WHAT KIND OF BENEFITS DO SALARY EARNER STANDS TO G...
Salary Earners Forum: WHAT KIND OF BENEFITS DO SALARY EARNER STANDS TO G...: A holder of a retirement Savings Account, upon retirement or on attaining the age of 50 years shall utilize the balance standing to the cred...
Salary Earners Forum: WHAT KIND OF BENEFITS DO SALARY EARNER STANDS TO G...
Salary Earners Forum: WHAT KIND OF BENEFITS DO SALARY EARNER STANDS TO G...: A holder of a retirement Savings Account, upon retirement or on attaining the age of 50 years shall utilize the balance standing to the cred...
WHAT KIND OF BENEFITS DO SALARY EARNER STANDS TO GAIN WITH RETIREMENT SAVINGS ACCOUNT (RSA) ?
A holder of a retirement Savings Account, upon retirement or on attaining the age of 50 years shall utilize the balance standing to the credit of his retirement savings account for the following benefits :
(a) Programmed monthly quarterly withdrawal calculated on the basis of an exected life span.
(b) Annuity for life purchased from a life insurance company licensed by the National Insurance Commission with a quarterly payment; and
(c) A lump sum to the balance standing to the credit of his retirement savings account; provided that amount left after sum withdrawal is sufficient to procure annuity or fund programme withdrawals that will produce an amount not less than 50% of his annual remuneration as at the date of his retirement.
COMMENTS /RECOMMENDATIONS
Based on the above 2004 Pension Reform Act, that explains the benefits of workers in the contributory pension scheme (RSA), the programmed withdrawal, annuity and lump sum collection are just part of workers investment benefits amongst many available investment opportunities in the country.
RSA is a good investment, but not better enough if it is not mixed with varieties of other investments like mutual fund, treasury bill, bond, money market fund, investments in properties and real estate.
WHY SHOULD WORKERS NEED OTHER INVESTMENTS IN ADDITION TO RSA ?
Many workers complain of inadequate salary to take care of their needs, but in retirement the fact of the matter is that monthly pension is going to be far less than the current salary. To bridge the gap between the inadequate current salary and expected inadequate monthly pension withdrawal (in retirement), there is need to reduce or eliminate poverty at old age by adding more investments to the current retirement savings account.
Workers can start additional investment in mutual fund with just N5000= (five Thousand Naira) and graduates upward as the capacity and ability to invest increases.
For further information on assets acquisition, investments, personal finance, pre and post retirement business planning. Feel free to E-mail: thesalaryearners.info@yahoo.com OR CALL: +23408027562783 OR WRITE: P.O Box 11130 Ikeja, Lagos-Nigeria.
(a) Programmed monthly quarterly withdrawal calculated on the basis of an exected life span.
(b) Annuity for life purchased from a life insurance company licensed by the National Insurance Commission with a quarterly payment; and
(c) A lump sum to the balance standing to the credit of his retirement savings account; provided that amount left after sum withdrawal is sufficient to procure annuity or fund programme withdrawals that will produce an amount not less than 50% of his annual remuneration as at the date of his retirement.
COMMENTS /RECOMMENDATIONS
Based on the above 2004 Pension Reform Act, that explains the benefits of workers in the contributory pension scheme (RSA), the programmed withdrawal, annuity and lump sum collection are just part of workers investment benefits amongst many available investment opportunities in the country.
RSA is a good investment, but not better enough if it is not mixed with varieties of other investments like mutual fund, treasury bill, bond, money market fund, investments in properties and real estate.
WHY SHOULD WORKERS NEED OTHER INVESTMENTS IN ADDITION TO RSA ?
Many workers complain of inadequate salary to take care of their needs, but in retirement the fact of the matter is that monthly pension is going to be far less than the current salary. To bridge the gap between the inadequate current salary and expected inadequate monthly pension withdrawal (in retirement), there is need to reduce or eliminate poverty at old age by adding more investments to the current retirement savings account.
Workers can start additional investment in mutual fund with just N5000= (five Thousand Naira) and graduates upward as the capacity and ability to invest increases.
For further information on assets acquisition, investments, personal finance, pre and post retirement business planning. Feel free to E-mail: thesalaryearners.info@yahoo.com OR CALL: +23408027562783 OR WRITE: P.O Box 11130 Ikeja, Lagos-Nigeria.
Friday, 3 January 2014
2014 BUDGET: AN INDIRECT INVESTMENT OPPORTUNITIES FOR WORKERS
Every businessman, investor, industrialist, government agency and politician do critically look at the budget and try to find different ways of getting their own share out of it.
Workers should specifically look at 2014 budget presentation by the coordinating Minister of finance, Mrs Okonjo Iweala to the National assembly as directed by the President.
WHAT IS IN 2014 BUDGET FOR SALARY EARNERS ?
The only direct benefit of budget is the regular payment of income (salary) for workers in public service, while economic activities determine to a large extent the direct benefit of budget for workers in private sector.
But what makes salary earners to be comfortable in and outside of work are the indirect benefits derivable from the budget. Without tapping into the indirect opportunities of budget, there are limited avenues for salary earners to have enviable success story to tell after exhausting working life or working career.
There are very few retirees today that are comfortable, not because of their reliance on direct benefits of budget, but their creativity in designing indirect ways of getting their own share of the budget has contributed to their large stream of income and comfortable life style.
This current budget favors Job creation, security, and empowerment of informal sector. Both Federal and state governments are bent on improving the status of the three major components of the budget listed. The decision to make use of Federal or state government empowerment opportunities lies solely with individual worker. With a salary account and approved land documents or C of O, accessing investment opportunities in real estate, housing and mortgage of both Federal and state government would be an added advantage to the entire workforce. In processing any of the state governments investment opportunities in 2014, political considerations and affiliations must not be an underplay in addition to other requirements.
The empowerment of informal sector is going to be our main focus of discussions, and investment penetration strategy that is to be adopted when the budget break down is made known.
Watch out for subsequent letter where detailed and practical ways of accumulating wealth would be revealed in an indirect benefit way, through a formal investment channels and platform.
For further information on asset acquisition, investment, personal finance, pre and post retirement business planning, feel free to CALL: +234 080 2756 2783 OR WRITE TO : P.O Box 11130 Ikeja, Lagos- Nigeria
Workers should specifically look at 2014 budget presentation by the coordinating Minister of finance, Mrs Okonjo Iweala to the National assembly as directed by the President.
WHAT IS IN 2014 BUDGET FOR SALARY EARNERS ?
The only direct benefit of budget is the regular payment of income (salary) for workers in public service, while economic activities determine to a large extent the direct benefit of budget for workers in private sector.
But what makes salary earners to be comfortable in and outside of work are the indirect benefits derivable from the budget. Without tapping into the indirect opportunities of budget, there are limited avenues for salary earners to have enviable success story to tell after exhausting working life or working career.
There are very few retirees today that are comfortable, not because of their reliance on direct benefits of budget, but their creativity in designing indirect ways of getting their own share of the budget has contributed to their large stream of income and comfortable life style.
This current budget favors Job creation, security, and empowerment of informal sector. Both Federal and state governments are bent on improving the status of the three major components of the budget listed. The decision to make use of Federal or state government empowerment opportunities lies solely with individual worker. With a salary account and approved land documents or C of O, accessing investment opportunities in real estate, housing and mortgage of both Federal and state government would be an added advantage to the entire workforce. In processing any of the state governments investment opportunities in 2014, political considerations and affiliations must not be an underplay in addition to other requirements.
The empowerment of informal sector is going to be our main focus of discussions, and investment penetration strategy that is to be adopted when the budget break down is made known.
Watch out for subsequent letter where detailed and practical ways of accumulating wealth would be revealed in an indirect benefit way, through a formal investment channels and platform.
For further information on asset acquisition, investment, personal finance, pre and post retirement business planning, feel free to CALL: +234 080 2756 2783 OR WRITE TO : P.O Box 11130 Ikeja, Lagos- Nigeria
Subscribe to:
Posts (Atom)