As an active worker, one of the most important things you could do is to save money for your retirement. The traditional way of saving for your retirement involves a long process especially when you are trying to access your funds after retirement.
Therefore, the introduction of technology in the saving of money towards your retirement is a very good initiative. This introduction is going to make your retirement savings easier to access and convenient.
In view of this, AirtelTigo in partnership with the People’s Pension Trust (PPT) has introduced a tier 3 personal mobile pension scheme in addition to a savings account called RetireRite. This scheme is aimed at helping customers of AirtelTigo Money to live a peaceful financially independent pension life.
Before you decide to register, there are some things you need to know and in this article we are going to show you all that you need to know so keep reading.
What is RetireRite?
RetireRite is a mobile pension scheme that allows subscribed AirtelTigo customers to make monthly contributions towards their retirement with as low as GH¢ 1. The scheme comprises of a pension account and a savings account.
How does RetireRite work?
Once you register, all the contributions you make will be disbursed equally into the two accounts, i.e. the savings and the pension accounts.
With the savings account, you can withdraw up to 50% of your contributions six months after your initial deposit with the available interest.
If a customer decides to stop contributing, he or she can only access their pension funds at age 60; depending on the date of birth of the ID you used for the registration of the SIM card.
Should in case of a customer pass away, there’s a life bonus cover to ensure that the beneficiaries of the deceased customer receive up to four times the total contributions made by the deceased in the previous calendar year.
Meaning, if the deceased made a total contribution of GH¢ 100 in the previous calendar year, the beneficiaries can receive up to GH¢ 400.
The most interesting thing about this package is that no matter your occupation you can still contribute every month with the little amount you have on you.
There’s no minimum age for registering but before you can subscribe to the AirtelTigo RetireRite, you need to be a subscribed customer on AirtelTigo Money.
How to Register for AirtelTigo Money RetireRite Pension Scheme
You can register for the AirtelTigo Money RetireRite pension scheme using the steps below:
- Dial *110#
- Select Pay Bill (option 4)
- Select Insurance & Pension (option 6)
- Select RetireRite (option 1)
- Select Register (option 1)
Most people don’t find a pension saving a profitable initiative because they don’t know where to invest their money or based on what they hear from other people.
But from the explanation given by AirtelTigo and the People Pension’s Trust, this is a very good initiative but you need to be willing to contribute consistently (every month) before you decide to sign up on this scheme.
Please share this post with your friends and relatives because there might be someone looking for such an initiative.