ARM Pension Loan
ARM Pension Managers (PFA) Ltd is one of the first seven Pension Fund Administrators (PFAs) licensed by the National Pension Commission (PenCom) in December 2005. It is part of the Asset & Resource Management Company Limited (ARM) Group, one of Nigeria’s most prominent and respected financial service brands.
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- Retirement savings account (RSA) opening and management: ARM Pension can help you open an RSA and manage your account. They will help you choose the right investment options for your retirement goals and provide you with regular updates on your account balance.
- Contributions: ARM Pension can help you make contributions to your RSA. They can accept contributions from your employer, as well as from you directly.
- Transfers: ARM Pension can help you transfer your RSA from another PFA to their platform. This is a good option if you are not happy with your current PFA or if you want to consolidate your RSAs.
- Loans: ARM Pension can offer you a loan against your RSA balance. This can be a helpful option if you need some financial assistance in the short term.
- Death benefits: ARM Pension will pay out a death benefit to your beneficiaries if you pass away. This benefit will help to provide financial support for your loved ones after you are gone.
- Disability benefits: ARM Pension will pay out a disability benefit if you become disabled and are unable to work. This benefit will help to replace your income while you are unable to work.
- Customer service: ARM Pension offers excellent customer service. They have a team of experienced and knowledgeable staff who are available to help you with any questions or concerns you may have.
ARM Pension is one of the leading pension fund administrators in Nigeria. They have a strong track record of providing excellent service to their customers. If you are looking for a PFA to manage your retirement savings, ARM Pension is a great option.
Here are some additional information about ARM Pension:
- They are one of the first seven Pension Fund Administrators (PFAs) granted license by the National Pension Commission in December 2005.
- They are part of the Asset & Resource Management Company Limited (ARM) Group, one of Nigeria’s most prominent and respected financial service brands.
- They have a pre-eminent reputation in Investment Management, Research and Pension Fund Management.
- They have over 1 million customers and manage over NGN1 trillion in pension funds.
- They have won several awards for their service excellence, including the Pension Fund Administrator of the Year award in 2018 and 2020.
How can I open an ARM Pension account?
- Download and fill the ARM Pension RSA Form. You can find the form on the ARM Pension website.
- Submit the form to an ARM Pension office. You can submit the form to any ARM Pension office in Nigeria.
- Provide a valid identification document. You will need to provide a valid identification document, such as a passport, driver’s license, or national identity card.
- Pay the administrative fee. The administrative fee for opening an ARM Pension account is NGN 1,000.
Once you have submitted the form and all the required documents, ARM Pension will open your account and you will be able to start contributing to your pension.
Here are the steps in detail:
- Go to the ARM Pension website and download the RSA Form.
- Fill out the form completely and accurately. Be sure to include your full name, date of birth, address, phone number, and employment details.
- Sign and thumbprint the form in the designated areas.
- Attach a copy of your valid identification document to the form.
- Pay the NGN 1,000 administrative fee. You can pay this fee in cash, by bank transfer, or by check.
- Submit the form and all the required documents to an ARM Pension office. You can find a list of ARM Pension offices on the website.
ARM Pension will process your application and open your account within a few days. Once your account is open, you will be able to start contributing to your pension.
Here are some additional things to keep in mind when opening an ARM Pension account:
- You can only open an ARM Pension account if you are a Nigerian citizen.
- You must be at least 18 years old to open an ARM Pension account.
- You can open an ARM Pension account even if you are already contributing to a pension plan through your employer.
- You can transfer your pension funds from another PFA to ARM Pension at any time.
What documents do I need to open an ARM Pension account?
- Completed ARM Pension Registration Form. This form can be downloaded from the ARM Pension website or obtained from any ARM Pension office.
- Proof of Identity. This can be a valid passport, driver’s license, or national ID card.
- Proof of Address. This can be a utility bill, bank statement, or other document that shows your current address.
- Passport-sized photograph. This photograph must be recent and in good condition.
- Birth Certificate or Age Declaration. If you are under the age of 18, you will need to provide a birth certificate or age declaration.
If you are opening an account on behalf of a minor, you will also need to provide the following documents:
- Parental Consent Form. This form can be downloaded from the ARM Pension website or obtained from any ARM Pension office.
- Proof of Guardianship. This can be a court order or other document that shows that you are the legal guardian of the minor.
Once you have submitted these documents, ARM Pension will process your application and open your account. You will then be able to start contributing to your pension.
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Here are some additional tips for opening an ARM Pension account:
- Make sure you have all of the required documents before you visit an ARM Pension office. This will help to speed up the application process.
- If you are not sure what documents you need, you can contact ARM Pension customer service for assistance.
- Be prepared to provide your personal information, such as your name, address, and date of birth.
- You may also be asked to provide your employment information, such as your employer’s name and address.
Opening an ARM Pension account is a great way to start saving for your retirement. By following these tips, you can make the process as smooth as possible.
How can I borrow an ARM Pension Loan?
- You must be a contributor to ARM Pension.
- You must have been contributing for at least 3 years.
- You must be less than 50 years old.
- You must have lost your job or been temporarily laid off for at least 4 months.
- You must have a debt-to-income ratio of no more than 33.33%.
Once you have met these requirements, you can apply for the loan by submitting the following documents to ARM Pension:
- A letter from your employer stating that you have been laid off or temporarily laid off.
- Your last 3 months’ payslips.
- A letter from your bank stating your current account balance.
- A letter from your tax authority stating your tax clearance.
- A copy of your national ID card or passport.
ARM Pension will review your application and will approve or deny it within 30 days. If your application is approved, you will be required to sign a loan agreement and pay a processing fee. The loan amount will be paid into your bank account within 7 days of signing the loan agreement.
The loan amount will be repaid over a period of 3 to 5 years. The interest rate on the loan will be determined by ARM Pension. You will be required to make monthly repayments to ARM Pension.
Here are some additional things to keep in mind about ARM Pension Loans:
- You can only borrow a maximum of 25% of your RSA balance.
- You will be required to pay back the loan with interest.
- If you default on your loan repayments, ARM Pension may seize your RSA balance.
If you are considering borrowing an ARM Pension Loan, it is important to weigh the pros and cons carefully. This loan can be a helpful financial resource if you are facing financial hardship after losing your job. However, it is important to make sure that you can afford to repay the loan before you borrow it.
How can I download the ARM Pension app?
On Android:
- Open the Google Play Store app on your device.
- Search for “ARM Engage”.
- Tap on the “Install” button.
- Enter your Google account credentials and tap on the “Accept” button.
- The app will start downloading and installing.
- Once the app is installed, tap on the “Open” button to launch it.
On iOS:
- Open the App Store app on your device.
- Search for “ARM Engage”.
- Tap on the “Get” button.
- Enter your Apple ID credentials and tap on the “Sign In” button.
- The app will start downloading and installing.
- Once the app is installed, tap on the “Open” button to launch it.
To log in to the ARM Pension app, you will need your RSA PIN and password. Your RSA PIN is a unique identifier that is assigned to you by ARM Pension. You can find your RSA PIN on your ARM Pension statement or by contacting ARM Pension customer service.
Once you have logged in to the ARM Pension app, you will be able to view your retirement savings account balance, recent transactions, and investment performance. You can also use the app to make payments to your retirement savings account, update your profile information, and find a nearby ARM Pension branch.
Conclusion:
the ARM Pension app provides a convenient and secure way for you to manage your retirement savings account. With the ability to view your account balance, track transactions, and monitor investment performance, you can stay informed about the growth of your savings. Additionally, the app’s features such as making payments and updating profile information make it easy to take control of your retirement planning. Whether you’re at home or on the go, the ARM Pension app ensures that managing your retirement savings is simple and accessible.
