At CFAL, we have the capabilities and expertise to design a pension that suits you. If you or a family member do not have access to a company funded pension plan or you wish to start your own, CFAL has multiple investment strategies; with investment options that range from conservative to moderate. You have the ability to choose more than one investment strategy and change your investment direction periodically.
This is your personal pension plan, which matures at age 65. The Plan also offers the additional benefit of a personal accidental coverage option, free to you for the first year. You also have the ability to view your account anytime, anywhere, from enrollment services to customized statement that reflects information on all contributions. The initial minimum investment is only $50 and the minimum monthly contribution is set at $50 per month.
Sign up now by completing these steps:
With our 24/7 online account monitoring system, you can track your savings once your application has been processed and your first deposit has been received!
There are three categories:
The initial contribution is $50.
The more you set aside today, the more you’ll have to retire on. The minimum contribution is $50 per month. If you are a sponsored contributor, 5% of your regular salary earnings but you can increase your personal contribution.
Cash contributions are not allowed. Contributions can only be made via online transfer. FCIB-09706(Main Branch_ Account No. 100645566. Checking Account. CFAL Blue Marlin Retirement Plan.
NOTE: Whenever a transfer is made to the account please send an email providing particulars to ensure your account is credited in a timely manner to the following: - Arlene Hercules - ahercules@cfal.com.
There are no penalties associated with missing monthly payments.
Please sign up using our website http://cfal.netclues.com/solution/pensions/individual-pension. You will also need electronic copies of yo u rPassport, NIB card or Driver's License and a current Proof of Address (recent utility bill, bank statement or purple voter's card). Adobe pdf format is preferred. Also, you will need to upload your proof of initial transfer ($50.00) along with your documents.
At age 65, you have the options of receiving either a lump sum payment or an annuity schedule with monthly payments as long as you live. The monthly income is entirely based on your investment contributions, the more and longer you save, the greater your income at retirement.
Generally no, otherwise most of us would just continue a pattern of saving, spending, and borrowing, leaving very little for retirement. However, in cases of emergency your case will be referred to the Trustee, who will make the final decision.
A key feature of this unique plan is its portability- no stops and starts. When you retire any contributions made by you and your employer will be there.
When you enroll, CFAL will provide you with an enrollment confirmation. You will also receive a statement once a year, showing the balance of your retirement investment.
In such event, the total value of your account will be paid in a lump sum to your designated beneficiary(s).
Should you have any questions you may contact:
Arlene Hercules
Ph: (242) 502.7079
Fx: (242) 356.3677
Email: ahercules@cfal.com or info@cfal.com
