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General
Yes, there are penalties for early withdrawal on CardinalStone Pensions investments.
For tenured investments in naira, early withdrawals attract 30% of accrued interest, while for dollar-denominated investments, the penalty is 50% of accrued interest.
For Mutual Funds, there are no penalties for withdrawing funds: however, if you withdraw within the first 90 days, a proceeding fee of 20% on the interest is applied.
CardinalStone Pensions offers a range of financial services, including asset management, investment banking, securities trading, and private wealth management. These services are tailored for individuals, institutional investors, and cooperatives. They manage investment portfolios across equities, fixed income, and alternative assets to meet clients’ goals.
The minimum initial investment for their Mutual Funds is 10,000 naira, with a minimum subsequent investment of 5,000 naira. This low threshold makes it accessible for both retail and institutional investors.
CardinalStone Pensions is registered with the Securities and Exchange Commission in Nigeria and follows strict corporate governance and risk management policies. This ensures the security of client investment. Their services are fully regulated and comply with industry standards.
For Naira and Dollar-denominated tenured investments, early withdrawal attracts penalties of 30% and 50% of accrued interest respectively. Mutual fund withdrawals within the first 90 days incur a processing fee of 20% on the interest earned.
Contributions
CardinalStone Pensions accepts various forms of contributions, including financial donations, sponsorships, and in-kind support. We welcome contributions that align with our mission and community initiatives.
You can contribute by making a financial donation through our website or by contacting our team to discuss sponsorship opportunities or in-kind contributions. We’ll provide you with the necessary details and guidance.
Yes, contributions may be tax-deductible, depending on your jurisdiction and the nature of the contribution. We recommend consulting with a tax professional to understand the specific benefits applicable to your situation.
Your contributions can support various initiatives, including community development projects, educational programs, health awareness campaigns, and environmental sustainability efforts. We can provide more details on current programs upon request.
We prioritize transparency and accountability by providing regular updates and reports on how contributions are utilized. Our financial records are available for review, and we encourage open communication with our contributors.
Absolutely! We welcome contributions from businesses and corporations. Collaborative partnerships can enhance our initiatives, and we offer tailored sponsorship packages for corporate contributors.
We acknowledge contributions through various channels, including our website, social media platforms, and newsletters. We also provide certificates of appreciation for significant contributions.
Yes, we respect the privacy of our contributors. If you prefer to remain anonymous, please let us know when making your contribution, and we will ensure your identity is kept confidential.
Contributions play a crucial role in funding and expanding our initiatives. They allow us to reach more individuals, improve program quality, and address pressing community needs effectively.
For more information about making contributions, please contact our Contributions Team through our website or email us directly. We’re happy to answer any questions and guide you through the process.
Retirement Savings Account (RSA)
A Retirement Savings Account (RSA) is a specialized savings account designed to help individuals save and invest for retirement. It is maintained by a Pension Fund Administrator (PFA) for the purpose of ensuring that a Retirement Savings Account (RSA) holder receives their retirement benefits as and when due.
- For most retirement accounts, you can start withdrawing at age 59 without penalties.
- Early withdrawals may be subject to penalties, unless they qualify for an exception (e.g., disability, certain medical expenses).
The National Pension Scheme does not permit multiple RSA PINs. If you have two RSA PINs for different PFAs, you will be required to merge both accounts into one. Contact Your preferred PFA for your Data Recapture Exercise (DRE). Upon validation of your pension account, the PFA will forward a transfer request to the National Pension Commission for approval. Upon receipt of an approval after reconciliation by the Commission, your funds will be transferred to your preferred PFA.
Having more than one PIN results to delay, incorrect remittances into the RSA account. It also causes undue delay in benefit payments since it is not possible for any contributor to be paid from two RSAs.
Upon retirement, you have the option to access your RSA through programmed withdrawals or by purchasing an annuity. The specific terms and conditions will be explained to you to help you make an informed decision.
Your RSA remains with you throughout your career, regardless of job changes or relocation. You should inform CardinalStone Pensions of any changes in your employment or contact details to ensure your records are up to dat
CardinalStone Pensions provides regular statements of account and offers online access to your RSA, allowing you to monitor contributions, investment performance, and account balance at your convenience.
Withdrawals from your RSA are generally not permitted before retirement. However, under certain conditions, such as loss of employment and inability to secure another job within four months, you may be allowed to withdraw up to 25% of your RSA balance.
Yes, you can make voluntary contributions to enhance your retirement savings. To do this, inform your employer to deduct the agreed amount from your salary and remit it along with the mandatory contributions into your RSA.
Contributions are made by both the employer and the employee. The minimum statutory contribution is 18% of your monthly emoluments, with the employer contributing 10% and the employee contributing 8%. These contributions are deducted and remitted monthly into your RSA.
To open an RSA, you need to complete the RSA opening form provided by CardinalStone Pensions, submit a valid means of identification, and provide other required documentation. Our customer service team can guide you through the process.
Voluntary Contributions
Voluntary Contributions are extra payments you can make in addition to your mandatory pension contributions. These contributions can help boost your retirement savings and provide you with a larger pension when you retire.
Anyone who is a member of a pension scheme with CardinalStone Pensions can make Voluntary Contributions. This is a great option if you want to increase your pension benefits.
Voluntary Contributions allow you to save more for retirement, potentially enjoy tax benefits, and reach your financial goals faster. The more you contribute, the more income you’ll have when you retire.
There are usually no specific limits on Voluntary Contributions. However, it’s important to check the annual pension contribution limits set by your country’s tax regulations to avoid penalties.
You can make Voluntary Contributions by contacting the CardinalStone Pensions team. We provide flexible payment options, including monthly or lump sum contributions.
Yes, you can adjust the amount of your Voluntary Contributions or stop them at any time. Just inform our pension team, and they’ll guide you through the process.
No, Voluntary Contributions are separate from your mandatory pension contributions and do not affect the amount required for your mandatory payments.
In many cases, Voluntary Contributions to your pension may be tax-deductible, helping you save on taxes. We recommend consulting a tax advisor for more information based on your location.
Your Voluntary Contributions will remain part of your pension and continue to grow. You’ll be able to access the full amount when you retire, even if you leave the scheme or switch employers.
In most cases, Voluntary Pension Contributions are locked until retirement age. However, there may be exceptional circumstances, such as severe illness, where early access is possible. Please consult with our pension advisors for more details.
Micro Pension
A Micro Pension is a retirement savings plan designed for low-income earners or informal sector workers, allowing them to save small amounts regularly for their future.
Anyone, particularly those in the informal sector or low-income brackets, can participate. Eligibility may vary by provider.
Micro Pensions are typically more flexible, allowing smaller contributions and targeting individuals without access to traditional pension schemes, which often require higher contributions and employer involvement.
Benefits include easy accessibility, flexibility in contributions, potential for growth through investments, and encouragement of saving for retirement.
Contributions can vary, but many Micro Pension schemes allow contributions as low as a few dollars per month, depending on the provider’s guidelines.
Investment options may include savings accounts, mutual funds, or other low-risk financial instruments tailored for growth over time.
Retirement / Withdrawal
A retiree account is a type of account designed for individuals who have retired and are now withdrawing funds from their pension or retirement savings.
To withdraw funds, log in to your account on the self-service portal and navigate to the “Withdrawals” section. Follow the prompts to submit your request.
You can typically choose from full withdrawals, partial withdrawals, or scheduled withdrawals (e.g., monthly or quarterly payments).
Some accounts may have withdrawal fees, especially for early withdrawals. Check the fee schedule for details on any applicable charges.
Withdrawal requests are usually processed within 5 to 10 business days, but it may vary depending on your account and the withdrawal method selected.
Yes, taxes may be withheld from your withdrawal based on your account type and applicable tax laws. You can specify your withholding preferences during the withdrawal process.
Yes, you can change your withdrawal frequency at any time through the “Withdrawal Settings” section of your account.
If you need to cancel a withdrawal request, contact customer support as soon as possible. They can guide you through the cancellation process.
To update your bank information, go to the “Profile” section of the portal and select “Bank Information.” Enter your new details and save the changes.
Multi Fund Structure
A Multi-Fund Structure offers multiple investment options, allowing participants to diversify their pension investments across various asset classes, such as stocks, bonds, and real estate.
To choose the right fund, consider your risk tolerance, investment goals, and time horizon. Review each fund’s investment strategy and historical performance in the “Fund Overview” section.
Yes, you can switch between funds within your account. This can typically be done online through the “Fund Management” section of the portal.
Some funds may charge a switching fee. Check the “Fee Schedule” in the portal for details on any applicable fees before making a switch.
Our Multi-Fund structure includes various fund types, such as equity funds, bond funds, balanced funds, and target-date funds, each designed to meet different investment goals.
The funds are managed by professional asset managers who employ various strategies to optimize returns while considering the fund’s risk profile.
Fund performance can fluctuate based on market conditions. You can review each fund’s historical performance and investment returns in the “Performance” section of the portal.
Yes, each fund may have a minimum investment requirement. Please check the specific fund details in the “Fund Information” section.
RSA Transfer
An RSA transfer involves moving your retirement savings from one RSA provider to another, allowing you to consolidate your funds or seek better investment options.
You might consider a transfer to take advantage of lower fees, better investment performance, or improved customer service offered by a different provider.
To initiate a transfer, log in to your account on the self-service portal and navigate to the “RSA Transfer” section. Follow the prompts to complete the request.
Some providers may charge a fee for transferring your RSA. Check the fee schedule on the provider’s website for details on any potential costs.
The transfer process typically takes between 2 to 4 weeks, depending on the providers involved and any outstanding requirements.
No, your benefits will remain intact during the transfer process. Your funds will continue to be managed according to the terms of your current plan until the transfer is complete.
Yes, you can transfer a partial amount of your RSA, but check with your current provider for any specific rules or minimums regarding partial transfers.
You may need to provide identification, your current RSA account number, and any forms required by the new provider. Check the “Transfer Requirements” section for specifics.
If you change your mind, you can typically cancel the transfer request within a specified period. Contact customer support for guidance on cancellation procedures.
Public Sector
CardinalStone Pensions provides a range of financial advisory and investment services tailored for public sector entities. Our expertise includes strategic planning, project financing, and public-private partnerships, helping government agencies achieve their economic and social objectives.
We support public sector projects through comprehensive financial advisory services, including feasibility studies, funding strategies, and stakeholder engagement. Our team works closely with government bodies to ensure projects are viable and aligned with public interest.
We serve a variety of public sector clients, including federal, state, and local government agencies, parastatals, and non-profit organizations. Our services are designed to meet the unique needs of each client.
Yes, CardinalStone Pensions specializes in structuring and facilitating public-private partnerships. We help government entities identify suitable projects, attract private investment, and navigate regulatory requirements to ensure successful collaboration.
Engaging CardinalStone Pensions brings several benefits, including our deep understanding of the public sector landscape, extensive experience in financial advisory, and a proven track record of successful project execution. We also leverage our network to enhance funding opportunities and stakeholder engagement.
We adhere to strict ethical standards and best practices in all our engagements. Our processes are designed to promote transparency and accountability, including regular reporting, stakeholder consultations, and compliance with relevant regulations.
Our services include:
– Financial advisory and strategic consulting
– Project finance and funding solutions
– Economic impact assessments
– Public-private partnership structuring
Self Service Portal
To access the self-service portal, visit our website and click on the “Login” button at the top right corner. Enter your credentials to log in.
If you forget your password, click on the “Forgot Password?” link on the login page. Follow the prompts to reset your password via email.
Yes, you can change your username or email address in your account settings. Look for the option under “Profile” or “Account Information.”
Log in to the portal and navigate to the “Pension Balance” section. Your current balance and contribution history will be displayed there.
Withdrawal options vary by plan. You can review your options in the “Withdrawals” section, or contact customer service for personalized assistance
Statements are typically issued quarterly. You can view and download your statements anytime in the “Statements” section.
If you notice an error, please contact our support team through the “Help” section of the portal, providing details of the issue for prompt resolution.
You can use the “Retirement Calculator” tool available on the portal to estimate your future retirement income based on your current contributions.
Yes, you can change your investment options in the “Investment Management” section. Please review any applicable fees or penalties before making changes.
If you leave your job, you will have options for your pension funds. You can review these options in the “Leaving Employment” section of the portal.
Yes, we take your security seriously. Our portal uses encryption and other security measures to protect your personal information.
You can contact customer support through the “Contact Us” section of the portal. Options include live chat, email, or phone support during business hours.
Self Service Portal
To create an account, visit the registration page, fill out the required information, and follow the prompts to complete the registration process.
Click the “Forgot Password?” link on the login page, enter your registered email address, and follow the instructions in the email to reset your password.
Yes, you can change your username or email address in your account settings. Look for the option under “Profile” or “Account Information.”
Check your login credentials for accuracy, including spelling and case sensitivity. If the issue persists, try resetting your password or contact customer support.
Yes, it is secure when you log in.
If you can’t access your email, contact customer support for assistance with resetting your password.
If you can’t access your email, contact customer support for assistance with resetting your password.