Project how much your pension fund will be worth at retirement. See year-by-year growth with contributions from you and your employer. Covers Nigerian PenCom, Kenya NSSF, SA retirement funds, and Ghana SSNIT.
Understanding how much your pension will be worth at retirement is crucial for financial planning. In Nigeria, the Contributory Pension Scheme (CPS) managed by PenCom requires employees to contribute 8% of monthly emoluments while employers contribute 10%. These funds are invested by Pension Fund Administrators (PFAs) like ARM Pension, Leadway, Stanbic IBTC, and FCMB Pensions.
This projection calculator uses compound interest with monthly contributions to estimate your pension fund balance at retirement. It accounts for annual salary increases, employer matching, voluntary contributions, and the expected rate of return from your PFA.
Nigerian PFAs have historically returned 8-12% annually. Kenya NSSF targets about 10%. South African retirement funds average 9-11%. Use a conservative estimate (8-10%) for planning.
Yes, in Nigeria you can make Additional Voluntary Contributions (AVC) on top of the mandatory 8%. These enjoy tax benefits and boost your retirement fund. Kenya NSSF also allows voluntary top-ups.
You can access your RSA at age 50 or upon retirement, whichever comes first. You can also access 25% of your RSA if you're unemployed for 4+ months. Early retirement access has restrictions.