October 21, 2021

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Sigma Pensions launches non-interest retirement savings

Sigma Pensions has become the first Pension Fund Administrator (PFA) to launch Non-Interest Retirement savings Account (RSA) Fund VI.

The move is in a bid to provide retirement savings aligned with the moral beliefs and values of ethical investing.

Speaking at the launch Thursday, the Chairman, Board of Directors, Sigma Pensions Limited, Mr Mark Collier noted that this fund would drive greater financial inclusion among an underserved segment of the Nigerian population as well as deepen financial inclusion and deepen pension enrolment.

The fund, which was given the nod by the National Pension Commission (PenCom) penultimate week would see Sigma Pensions position itself as a trailblazer of the non-interest RSA fund also known as Fund VI.

“Having a vibrant non-interest pension offering will help deepen the breadth and sophistication of the domestic pension and non-pension fund management industry.”

The Managing Director, Sigma Pensions, Mr Dave Uduanu, said: “This product is particularly unique because for the first time ever in our market, it allows pension account holders to be able to have pension solutions that aligns with their beliefs and values.”

“Even in our local market, we see that non-interest investment options have provided better risk adjusted returns. Take for example, the NGX Lotus Islamic Index, since inception in 2012, the index has generated annualized returns of 12 percent which compares to the NGX Pension index annualized returns of 10%.”