Introduction
“Sefute, Kuli Sunga We Mwine” is a common Lamba saying, meaning that for one to be safe they needed to take care of their own safety at a personal level. This principle is the same when it comes to planning for retirement. For one to enjoy a proper retirement they need to put in place a pension plan at individual level. The Personal Pension Plan allows them to accumulate up enough funds to start a life once they quit employment.
Frequently Asked Questions
Purpose
The Personal Pension Plan (PPP) is a savings vehicle which provides individuals the opportunity to put in aside funds and to grow them with the aim of providing the desired funds at a time when one retires, leaves employment or they are in a position where they can not earn income from their business. The purpose of the PPP is purpose of the PPP is to compliment state pension plans (like NAPSA) or work-related pension plans which are solely meant for employees engaged in formal pensionable service which are controlled and driven by the Employers or State.
PPP offers an opportunity to individuals to Plan for their Retirement
The Mukuba Pension Trust Personal Pension Plan (PPP) offers opportunities to individuals to plan for their financial wellbeing in retirement or after leaving employment. With PPP the individuals are put in the driving seat of developing a retirement package suited to a lifestyle they want to have in retirement, as well to enable them save sufficient funds to meet their needs after they quit employment. It is meant for individuals who would want to secure their future based on their personal circumstances and for them to enjoy their life after they quit employment or they start running business.
The PPP gives all individuals an opportunity to create a financial safety net suited to their lifestyle and it only comes in once a member is unable to earn income from a job or a business, by making lump sum payments or series of payments over the retirement life of an individual.
Who can Join PPP?
The PPP is designed for all individuals concerned about their Retirement Plan, among others who have;
1. Contributions
The contributions received will be invested for us to get the desired return to grow the pension fund. The returns earned over the this far are as follows;