Non-Interest RSA Fund VI Launched by Nigeria-Based Sigma Pensions Set to Drive Greater Financial Inclusion

Sigma Pensions has become the first pension fund administrator in Nigeria to launch a Non-Interest Retirement Savings Account (RSA), Fund VI. The Non-Interest Fund, is Fund VI under the Multi-Fund structure which has been introduced by the National Pension Commission (PenCom). This Fund targets contributors who wish to have their pension contributions invested in non-interest money and capital market products.

Why it Matters?

According to Mark Collier, Chairman of the Board of Directors, Sigma Pensions, financial exclusion is high in Nigeria, estimated at around 37%. The launch of Fund IV is expected to promote increased financial inclusion amongst an underserved segment of the Nigerian population.

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