Voluntary Contributions Guidelines Amended by PENCOM

 

Dear Valued Customer, We are pleased to inform you that the National Pension Commission (PenCom) has recently made changes to the Guidelines on Voluntary Contribution (VC) under the Contributory Pension Scheme.  The previous guideline stated that all contributions made by active or mandatory contributors should be retained in the Retirement Savings Account (RSA) for a minimum of 2 years before access.  The amended guideline, which is now in effect, allows both mandatory and non-mandatory contributors to access the contingent portion of the voluntary contributions after one (1) year from the date the voluntary contribution was made.  Additionally, retirees, exempted contributors, political office holders, employees in an organization with an Approved Existing Scheme (AES), and foreigners are now eligible to withdraw 50% of the voluntary contributions as contingent withdrawal before their employment/contract expires.   For clarification, please contact us via email at enquiries@trustfundpensions.com or by calling 0700-TRUSTFUND, 0700878783863, 02094628400.   Thank You.   Trustfund Customer Service Team

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