The Chief Executive Officer of Axis Pension Trust, Mr Afriyie Oware, has advised workers to consciously plan their retirement to avoid being overtaken by events after they have stopped active work.
Among other things, Mr Oware said people must make it a conscious effort to put money aside towards their retirement as well as decide what to do when they retire.
He said an active saving culture was necessary to spare one of the problem of retirement—poverty, which often led to financial constraints and untimely death after retirement.
He added that the saving habit must be cultivated and nurtured by all, be it those in formal employment or informal employment as retirement and incapacitation from work was not limited to only one group of workers.
The financial sector expert was speaking at the Axis Pension Trust’s Annual Pre-Retirement Seminar held on September 17.
The annual event aims at educating pensioners and workers on retirement.
Axis Pension said the event was inspired by the mission of the organisation to empower the Ghanaian worker to retire with dignity.
This year’s event brought together experienced and well-resourced experts to discuss various topics related to retirement needs, including health in retirement, what to expect at retirement, accessing your benefits from the various schemes and how to make your retirement income last longer.
The CEO observed that as income inequality widened in society and graduate unemployment increased, the Ghanaian retiree bone a greater burden in sustaining families.
This, he said, underscored the objective of Axis to empower each client with adequate knowledge and resources to retire well in a way that distinguished them from those who did not benefit from the company’s products.
“The Axis Retirement Annuity Plan, which is a programmed withdrawal arrangement, provides a robust solution to help retirees prudently manage their retirement savings to last you longer,” he said, adding that the company was known for offering superior value and peace of mind to clients.
He said Axis Pension Trust was the first in the country to offer free embedded life insurance cover to its Master Trust and personal pension schemes.
This, he said, added an additional layer of cushioning for scheme members and their beneficiaries.
The Head of the Financial Planning unit at Axis, Mrs Mimi Anane-Appiah, emphasised the need for retirees to utilise a solution such as the Axis Retirement Annuity Plan to create an additional stream of regular income, manage the shortfalls in retirement income and ensure steady growth of initial lump sum amount.
The virtual seminar attracted about 900 attendants and concluded on a high note, as participants were confident of their retirement prospects after they were assured of the company’s continued support.
Axis Pension Trust is a leading corporate trustee in Ghana, offering retirement savings solutions and administration services with a core objective to make pension provision painless for employers and assuring for scheme members.
The company offers world-class services to invest and safeguard the retirement savings of workers for a better future.
With its 360 degree digital solutions, multi-share class investment plans and best-in-class retirement education interventions, members experience supreme accessibility and convenience while planning their retirement.