Embrace voluntary contributions, Leadway Pensure urges Nigerians

Pension Fund Administrator Leadway Pensure has called on Nigerians to embrace Additional Voluntary Contributions to boost their retirement savings and take charge of their financial future.

The company made this appeal during an interactive webinar themed ‘Beyond the Paycheck: Winning Strategies to Boost Your Retirement Savings’.

The webinar, designed to provide financial education and practical retirement planning strategies, featured insights from pension experts.

Speaking at the event, Head of Business Development and Partnerships Peter Mould underscored the importance of AVC in securing long-term financial stability.

He noted that retirement planning should go beyond the statutory deductions made under the Contributory Pension Scheme, urging Nigerians to proactively grow their pension funds by making additional voluntary contributions.

“Retirement planning is not just about setting aside a portion of your pay cheque—it is about building a structured financial strategy that guarantees peace of mind in your later years. AVC allows individuals to contribute extra funds to their Retirement Savings Account, ensuring a more comfortable and secure future,” said Mould.

He emphasised that AVC is open to all income earners, not just high-income professionals.

“Whether you are a young professional starting your career, a self-employed entrepreneur, or an executive looking to strengthen your retirement portfolio, AVC provides an avenue to achieve your financial goals faster,” he added.

In her presentation, the head of Customer Relationship Management at Leadway Pensure, Gloria Daniels, outlined a step-by-step guide on how Nigerians can start making additional voluntary contributions, emphasising the flexibility and ease of the process. She encouraged individuals to either increase their monthly pension contributions or make lump-sum payments, depending on their financial capability.

She also introduced SureCal, Leadway Pensure’s innovative financial planning tool designed to help individuals calculate their retirement savings needs and protect their financial future. “SureCal is an intuitive financial dashboard that enables users to make informed decisions about their retirement savings, providing them with a clear roadmap toward financial security,” she explained.

The session also addressed common concerns about AVC, including its accessibility when changing jobs, the impact of inflation on savings, and recent regulatory updates from the National Pension Commission.

Daniels urged employers and HR professionals to actively promote AVC among their employees, stressing that workplace financial literacy can significantly improve workers’ retirement outcomes.

“Business owners and HR professionals play a critical role in fostering financial security among employees. By educating their workforce about AVC, they not only help their staff build a stronger financial future but also cultivate a culture of financial responsibility,” she added.

At the end of the session, participants were encouraged to take proactive steps toward securing their retirement by starting or increasing their voluntary contributions. The webinar reinforced Leadway Pensure’s commitment to financial literacy, pension education, and helping Nigerians make informed decisions about their financial future.