Yes, you can set up a life trust but it will not be allowed to hold fixed assets.
The expenses of the deceased trusts are met debited from income which is earned from investments.
You are not allowed to contribute to the scheme of your former employer. If you are moving to an employer who does not have a scheme you can transfer your benefits to Octagon Personal Pension Scheme and continue saving for your retirement.
Yes, the benefit is credited with annual investment income as any other members’ benefits.
Yes, they are same other members hence they should attend annual general meetings of the scheme.
The rights of the deferred are the same as for active members, they should also participate in election of trustees.
Unless you scheme provides for retirement age of 65, the law requires that you access your benefits on retirement. You can however transfer your benefits to Octagon Personal Pension Scheme and access them at 65 years tax free.
Yes, this ensures all members receive full income from the scheme.
You can access benefits after 50 years and leaving employment. You need to visit the nearest NSSF offices and they will help in access of benefits.
Yes, you can use up to 60% of your accumulated benefits as security for a mortgage to buy, renovate or build a house.
The annuities are provided by various insurance companies and it is the responsibility of the member to ensure he/she chooses carefully where to source for the annuity.
No, the trustees have discretion as to who to pay benefits in the event of your death. The Trustees will make this decision as circumstance dictate.
You are allowed to transfer your benefits to your next employer or to your personal pension scheme or leave them in current employer scheme. Transfer of benefits does not attract tax.
Yes, they treated the same way any other contributions are treated.