People’s Pension Trust and AirtelTigo Money have launched a mobile pension and savings product aimed to help Ghanaians lead a lifestyle they want post-retirement.
The pension trust that is licenced to provide trustee services for the Ghanaian workforce, particularly, those in the informal sector is now working towards easy and cheaper ways to help retirees.
“It’s clear that people are looking for innovative digital solutions, especially in this COVID-19 era to do all manner of transactions. With RetireRite, we are meeting this objective by putting the power in their hands to make the right financial decisions for their lives now and in the future.”said Saqib Nazir, acting Chief Executive Officer for People’s Pension Trust.
Now through this partnership, both existing and new AirtelTigo customers can subscribe, contribute as low as GHS1 and receive their claims via AirtelTigo Money.
How it works
To subscribe to the ‘RetireRite’, customers are required to dial *110*4# and follow the registration steps. The entire process from opting, payment and to claim has been made simple for customers.
Once a customer registers as a member, two accounts are opened; a retirement account and savings account. All payments made are divided into two equal parts for each account. In addition, customers can withdraw up to 50 per cent from the savings component of their pension account six months after the initial deposit.
Furthermore, a life bonus cover has been embedded in the product to ensure that the beneficiaries of a deceased member receive up to four times the total contributions made by the deceased member during the previous calendar year.