What You Need To Know About Micro Pension Plan

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The Micro Pension Plan Is A Scheme designed for self-employed persons and employees to benefits from the pension fund.

Furthermore,the Micro Pension Plan is to ensure that self-employed persons and employees working in organizations with less than 3 employees are able to have a pension plan under the Contributory Pension Scheme. These category of persons are not mandatorily covered by the Pension Reform Act, therefore they are allowed to participate voluntarily.


How To Registration
Prospective Micro Pension Plan participants may register with any Pension Fund Administrator (PFA) of their choice. The minimum age of a prospective participants under the Micro Pension Plan is 18 years.


How To Contributes
Contributions could be made daily, weekly or monthly. Operators have designed ways through which participants can contribute easily.


How To Withdraw If It Need
Every of your contribution shall be split into two portions. 40% always available for contingent withdrawal, which mean, you CAN withdraw it anytime you want while 60% retained and managed exclusively for pension, i.e you CAN NOT access the fund until you are 50 years old.

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