Tavona Biza, Group CEO Old Mutual Ghana

The Group CEO of Old Mutual Ghana has in an interview after the ‘ɔbra pa’ (good life) Retirement Salary stakeholder engagement program held in Accra, advised Ghanaian youth to start thinking of retirement and life after retirement.

Tavona Biza said, “You don’t start planning for retirement at the age of 50. You start planning for retirement even at the age of 18.

“At that age, if you come to Old Mutual, we will craft a plan for you that will ensure that by the time you get to retirement, the policy will be there for you to enjoy. So start planning early, don’t wait till you are 50”.

He was speaking at the event, which was themed ‘Retiring with Confidence; how to live a fulfilled life with a retirement salary.’

Old Mutual recently launched a pioneering retirement product called With Profit Annuity dubbed “ɔbra  Pa Retirement Salary” to provide a guaranteed stream of income for retirees for the rest of their lives.

Rita Boateng, Head of Marketing and Operations with Old Mutual Ghana, explained that “the policy was designed to help retirees experience all the good things they want in retirement.

“It helps them to enjoy a customised plan tailored towards their unique needs while helping protect what matters most to them in retirement.”

“To become an ɔbra Pa Retirement Salary beneficiary, one has to be 50 years and above and invest a minimum lump sum of ¢20,000 upfront.

“In addition to the monthly salaries for individual policyholders, couples can also enjoy Joint Spousal Benefits when they take the policy together. There is also a funeral cover for all policyholders,” Mrs Boateng added.