The most popular myth about pensions is that it is only for employees in the corporate sector. This is a myth that has been debunked on several occasions but somehow continues to linger in the minds of people.
In this article, you will understand why it is necessary for you to open and maintain a pension account as a business owner or entrepreneur living in Nigeria.
Here are three simple reasons you need to open a pension account even if you do not work a regular 9-5 job as an employee in the formal sector.
To protect your finances against inflation
While you are currently raking in profits from your business, inflation is still a major source of concern for you as an entrepreneur or small business owner. Investing in stocks, bonds or mutual funds according to your risk capacity is a good hedge against inflation.
But when you open a pension account, you do more than just invest: your financial security is stronger. You no longer worry so much about the effects of inflation on your finances in the future because your pension account will continue to yield good returns for you even after you’ve retired.
You can access your money at any time you like
Life is unpredictable. This minute, you are fine and the next minute, you need money to cover an emergency. A registered pension account in your name can save you in such situations. You won’t have to dip your hands in your net profits or run around to raise money when you can simply withdraw from the money that you’ve saved up in your pension account.
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You receive a salary for life
When you own a pension account as a business owner, you are placed on a monthly salary for life—whether you decide to become an employee or not. You’d agree that this is a beautiful thing. This means that aside from your regular monthly or daily profit, you also get an additional income that never runs out even after you’ve retired from active work.
Are you a business owner without an active pension account? Then you can open a Retirement Savings Account under the Micro Pensions plan with Oak Pensions Limited. Call the Marketing Manager on 09087448661 or send an email to info@oakpensions.com.
Are you a business owner without an active pension account? Then you can open a Retirement Savings Account under the Micro Pensions plan with Oak Pensions Limited. Call the Marketing Manager on 09087448661 or send an email to info@oakpensions.com.