Trustfund Pensions Canvasses Savings Culture among Youths

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Ndubuisi Francis in Abuja

A Pension Fund Administrator (PFA), Trustfund Pensions Limited has expressed the need to inculcate savings culture among the youths, saying that the earlier they are being taught the enormous advantages, the better they appreciate its essence and adopt it as a lifestyle.

The PFA’s Managing Director/Chief Executive Officer, Mrs. Helen Da-Souza, who spoke in Abuja, weekend at the 2019  prize-giving ceremony of  Trustfund Pensions essay competition for Senior Secondary School Students in the Federal Capital Territory (FCT), Abuja, said her organisation believed that there is no age restriction to savings.

“It is our belief that there is no age restriction to savings and the earlier we teach our young ones the enormous advantages of savings, the better they appreciate its essence and adopt it as a lifestyle,” Da-Souza, who was represented by the Head of Business Development and Marketing,  Mrs. Eno Adetayo Olugbemoi, said.

She stressed that when they are gainfully employed or become entrepreneurs in the future, they would need persuasion to join the Contributory Pension Scheme, (CPS), and save for their retirement, with savings already becoming part of them.

According to her, the 2019 Trustfund essay competition, the second in the series, was in commemoration of the World Savings Day, an annual event celebrated worldwide.

She added that it was organised in tandem with a directive from the Nigeria Pension Commission (PenCom) for all pension fund administrators to voluntarily participate in the celebration.

“We at Trustfund Pensions Limited decided to organise this essay competition annually, as our own way of introducing the savings culture to our youths who are tomorrow’s leaders,” Da-Souza said.

The event, she noted,  is being hosted by Trustfund’s Corporate Social Responsibility (CSR) initiative, its channel of giving back to the society, expressing appreciation to the. FCT Secondary Education Board for supporting the essay competition and making it a success.

The Trustfund 2019 essay competition commenced in July  with the notification of the topic as approved by the FCT Secondary Education Board.

At the prize-giving event, weekend, Miss Nwanwa Chinenye Joan from the School of the Gifted, Gwagwalada, Abuja emerged winner.

The topic of the essay competition was “Savings should be considered a virtue and followed as a practice, discuss.”

Nwanwa, who hails from Imo State, told THISDAY that she was excited emerging the winner of the essay competition, and thanked Trustfund for the sponsorship.