Are you worried about being stranded financially if you lose your job before you retire? Arm pension loan has got you covered. Basically, all you need to do is to apply for a loan from your ARM pension account if you are stranded financially after losing your job. This loan will cover your finances till you get back on your feet. Here’s what you should know about the ARM Pension Loan and how to apply for it.
An Overview of ARM Pension
ARM Pension Managers (PFA) Limited is one of Nigeria’s leading Pension Fund Administrators (PFA) which the National Pension Commission licensed in December 2005. It is a subsidiary of the ARM Group (Asset & Resource Management Company Limited). The ARM Group of Nigeria’s most dominant financial service brand. Basically, this group is notable for quality research, investment, and Pension Fund Management.
What Services does ARM Pension offer?
Here are the services ARM pension offer individuals:
1. Contributory Pension Scheme
The Contributory Pension Scheme is the standard retirement savings account (RSA), which is for individuals employed in both the private and public sectors.
2. Micro Pension Scheme
Basically, this company designed the Micro Pension Scheme (MPS) to help artisans, traders, professionals, and other self-employed individuals. Self-employed people do not qualify for the Contributory pension scheme (CPS), hence, this scheme helps them save easily for retirement.
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3. Voluntary Contribution
Voluntary Contributions are additional funds you can choose to add to your compulsory pension savings. Basically, you can decide to put aside this extra cash willingly to boost your Retirement saving account (RSA).
How can I open an ARM Pension account?
Here’s how to open a pension account in this organisation:
1. First, visit their official website, www.armpension.com
2. Next, click on the account type you want to open
3. Lastly, fill out the registration form and submit it.
What documents do I need to open an ARM Pension account?
To open an ARM pension account, you need the following documents:
1. First Name
2. Last Name
3. Phone Number
4. Email Address
5. State of Residence
6. Date of Birth
7. Referral Code
How can I borrow an ARM Pension Loan?
Basically, this pension administrator allows you to take out loans from your RSA before you retire based on reasons such as:
1. Temporary Loss or Exit from work (maximum of 25% loan from your RSA)
2. Medical Reasons
However, if you wish to withdraw from your retirement Savings Account (RSA), you must go through the data recapture exercise first before accessing benefits. If you lose your job temporarily and want to take out an arm pension loan from your RSA you need the following documents:
1. Application letter
2. Confirmation letter from the last employer
3. Birth Certificate or Age Declaration
4. Exit letter from the last employer
5. A Photocopy of a valid means of identification (i.e. Driver’s license, National ID, etc.).
2 passport photographs
6. A completed ARM Pension Retirement Withdrawal Form (you will get this form from Arm pension)
7. Your NIMC slip/Card (NIN number)
8. Appointment/Employment/Confirmation Letter
How can I download the ARM Pension app?
Here’s how you can download this app on your smartphone:
1. Visit the App Store on your iPhone or the Google Play Store you will find on your Android phone.
2. Next, search for “ARM Engage”
3. Lastly, download the app, install it, and sign up on your pension account.
How can I contact ARM Pension?
Here’s how you can contact this loan administrator:
Address: 5, Mekunwen Rd. Off Oyinkan Abayomi Drive PMB 80173, Ikoyi, Lagos, Nigeria
Phone Number: +234 1 2715000, 0700CALLARM (0700 2255 276)
ARM pension loan is one of the benefits a retirement saving account holder can access from ARM pension. Basically, this benefit allows you to access a maximum of 25% loan from your retirement account before you retire. However, you have to be out of a job for a certain duration before you can access this loan.
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