Pension manager Urges Stakeholders To Join CPS

The Managing Director of
Fidelity Pension Managers Ltd., Mrs Amaka Andy-Azike, has advised individuals and corporate organisations to join the Contributory Pension Scheme (CPS).
Andy-Azike gave the advice in an interview with newsmen in Lagos.
She said that individuals and private companies with five employees and above were eligible to register with any Pension Fund Administrators (PFAs) of their choice.
“It is clear that those who have not joined the scheme are missing out, and it’s not late for them to start.
“So, the advice to them is that they key into the scheme and start enjoying all the investible income that the professional fund managers are generating.
“Whether they are private sector, once they have five employees and above, they are eligible to register.
“So, the advice to the employers is to try because  the issue most of them have is cash flow.  For them, it is additional spending, coughing out additional 7.5 per cent of the total emolument every month.
“And so, for them that dampens their mind; they know that it is a kind of motivation to the staff members, but when they start considering the cash flow implication they are discouraged.
“But  our advice to them is that they should brace up and do it for them because those workers will not forget them.
“They will be more motivated to do the work and then there will be something for them when they leave the office.
”And then for the workers, for every month they work they are saving for their future,” she said.