How To Open Stanbic IBTC Bank Pension Plan Account

Stanbic IBTC Bank Pension Fund Management involves the creation and maintenance of an investment folder of pension assets on behalf of contributors. The bank brags of taking advantage of their wide resources and pension fund management experience to offer effective and custom-made management services.

In this article, you will learn the steps you need to follow to be able to set up a pension plan with Stanbic IBTC.

How to Open Stanbic IBTC Bank pension plan

Follow the steps below to open pension plan with Stanbic bank;

  1. Download the IBTC Retirement Savings Account (RSA) Opening Form.

  2. Print out the download form.

  3. Fill the form with all the required information.

  4. Submit the completed form at any Stanbic Bank’s office close to you.

Upon completion of your registration for the pension account as highlighted above, a special passcode and Personal Identification Number (PIN) will be allocated to you. Be informed that you will get this through your email address and SMS to enable you to log in and access your account.

Kindly inform your employer that you have created a pension account and provide them with all the account information: RSA PIN, name of pension account and the Pension Fund Custodian information. This is in order for your employer to remit your savings to your account.

How to check Stanbic IBTC pension account balance

To check your pension account balance via USSD, dial *909# on your registered phone number, or visit any closest Stanbic branch.

Stanbic IBTC Pension provides you with the opportunity to perform the following operations on your account:

  • View your account balance
  • Check your transaction history
  • Update your account details
  • Create email statement of account and information
  • Change your password

How to withdraw money from your pension account

Once you attain your retirement, visit any Stanbic IBTC branch to request for withdrawal. A certain amount can be withdrawn monthly, quarterly or regular interval. Meanwhile, in a case where your total contribution is not up to N500,000, you have the opportunity to withdraw the entire contribution at once.

Conclusion

Having the Stanbic IBTC Pension account is a great way of preserving your future and that of your family. Besides the pension account, you can also make voluntary savings and withdraw whenever you want. Note, however, that withdrawal from voluntary contribution is subject to tax.

Source: Nyscinfo

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