FAQs

FAQs

A wealth planner is a financial advisory service, that helps you identify your financial goals and provides you with a financial plan and the opportunity to fund your goals through recommended securities managed by licensed third-party fund manage.

You need a wealth planner because, it offers you the opportunity to plan your finances well and helps you to put all your savings and investments are purposed-based and properly prioritized.
It also helps you to attain your financial goals in a more structured way and prepares you towards life changing events like marriage, education, emergency needs, starting own business and planning for retirement.
Above all, it offers you a bespoke solution to your financial needs tailored towards your specific dream goals.

A Financial advisor is well vested in matters of financial planning and helps you identify your financial goals. The advisor also researches into various securities and recommends an underlying security and risk protection policy that can achieve your goals.

Yes, there is a service fee when you engage the services of a financial advisor. However, advisory is free for the first two years.

To effectively plan and execute a strategy for saving and investing to achieve your goals, you need someone who is trained to provide you with a professional view on how you can maximize your current financial resources and recommend the appropriate choices that would lead to achieving your goals. Included in his/her expertise is the ability to recommend to you the right combination of investment instruments that can adequately meet your goals. He/she also helps monitor and reviews the performance of your investment portfolios taking into consideration your goals as well as the appropriate risk protection you need to safeguard your dreams. A financial advisor becomes your lifetime financial partner who is always available to help you navigate all your complex financial challenges.

That is a good question. First, it is important for you understand that no matter how small your income is you must try to put something away for tomorrow. Saving for the future doesn’t start with the money, you need to have the desire and discipline to do it. You can start by learning how to manage what you have well. To do that you must have a budget.
If you need help with that simply get in touch with any of our advisors and you will be assisted with that and more.

Multiple factors influence the investment product that will work for you. So to get the best answer to this question, we would need to know and understand you better to be able to recommend the right product(s) to you.

This depends on your goals and your investment contribution. The horizon of your goals may range from two years to ten years or above depending on your expected goal amount.

The amount to contribute is depends on your expected goal amount and how long you would like to achieve it.

Yes, you can add up to your already signed up goals at any time. Also, your financial plan will be reviewed periodically, and this will give you the opportunity to revise your goals in terms of duration and contribution

You can do either or both depending on your goals and income.

Like any investment, your investment will be exposed to market risk and non-market risk. Market risks like the effects of inflation, market volatility etc., and nonmarket risks like natural disasters etc.

You can have access to one of our financial advisors when you walk into our Customer Experience Center or via any of the contact forms on our website and an advisory will get in touch with you.

You can redeem your funds at any time and as often as you want. However, because you are saving/investing towards the realization of your goals, redeeming frequently will impact on the attainment of your goals.

As often as you wish, however it is advisable to allow some time frame before adjusting your goals. You can also engage your advisor constantly to alert him/her of any changes in your life for anew plan to be arranged considering the changes in your life

Your asset allocation is mostly influenced by your risk appetite, investment goals, the horizon and market expectations.
A short-term goal will have most of your funds allocated into short term asset class while a long-term goal will have most of your funds allocated into long term asset class.

Calibration or balancing of your plans are done yearly to cater for your investment goals as well as any life changing events or market conditions. It is meant to ensure that you are on track with your goals.

Your portfolio return is determined by the performance of the share price of the fund. An increased share price will translate into higher returns and the reverse will translate into lower returns.

This would be based on how you envisage your retirement and the kind of retirement you want. However, by age 60, you should have about eight (8) times your annual income in some investment. Some rule of thumb recommend that you save at least 10-15% of your monthly income towards your retirement

There aren’t any fixed guidelines on how much to save for your education or your child’s education but the easiest way to do this is to contact an advisor who can help you determine the cost of education for yourself and your child and the monthly contribution you need to make to meet your target amount over the projected number of years of education.

Even a well-developed investment plan can fail if the unexpected happens to the owner of the plan. In fact, as humans, we are exposed to several risks that has the potential to curtail our dreams, as such we need Insurance to provide the cushioning to our loved ones if we meet our untimely death or becomes disable or retrenched from our jobs.
Long term care Insurance on the other hand takes care of our post retirement unexpected health expenses. It caters for our health and home care expenses when one becomes immobile due to ageing conditions and complications It supports us to live longer after retirement.

Tier 2 FAQs

Your contributions and any income that has accrued may be accessed:

i) at the compulsory retirement age of 60 or early retirement at 55

ii) if you cease to work due to permanent disability

iii) if you have attained the age of 50 and you are not employed or self-employed

iv) if you are not a citizen of Ghana and you wish to emigrate permanently from the country

Upon retirement, you can withdraw all or part of your tier 2 benefits

Both employer and employee contribute 5% of the total 18.5% into the tier 2 scheme.

No, your employer cannot access your tier 2 contributions. The entire accrued tier 2 benefits are vested in you and can be ported to another scheme when you leave your employer.

Generally, you cannot contribute more than 5% towards your tier 2. There are a few exceptions where individuals can contribute more than 5% towards their tier 2 which include:

  •  – if the employee is an expatriate
  •  – if the employee’s basic salary is over GHS 20,000.00 per month
  •  – if the employee at the time of joining the scheme was more than 45 years old

When you leave, your accrued benefits will be moved into a preservation account with Petra Trust. The preservation account is a separate account within the scheme where your funds will continue to be invested and you will enjoy the same services and benefits associated with being a member of the Petra Scheme.
If you are moving to a new company, you can instruct Petra Trust to transfer your accrued benefits to your new employer’s registered tier 2 scheme.

Yes, your accrued benefits will be moved to a preservation account with Petra Trust.

The regulator will appoint a new trustee and your accrued benefits will be transferred to the new scheme. The assets of the scheme are separate from the assets of Petra Trust. In an unlikely event that Petra goes out business, the regulator of Pensions will appoint a new trustee for your company and transfer your assets to the new trustee’s custody account.

You can use part or all of your tier 2 benefits to secure a mortgage for the acquisition of a primary residence

No, you cannot use your accrued benefits as collateral for a loan.

It is your asset and part of your estate. Where you have nominated beneficiaries, they will get it in accordance with Ghana’s law.

You can contact us via: Email: [email protected]

Telephone:

– 0302 740 963

– 0302 740 964

– 0302 763 908

You will receive quarterly statements. The statement captures the total monthly contributions made and the net returns on your accrued benefits. There is also an online portal for you to also check your contributions and returns at any time.

Tier 3 FAQs

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation.

Your contributions and any income that has accrued may be accessed:

i) at the compulsory retirement age of 60 or early retirement at 55

ii) if you cease to work due to permanent disability

iii) if you have attained the age of 50 and you are not employed or self-employed

iv) if you are not a citizen of Ghana and you wish to emigrate permanently from the country

Upon retirement, you can withdraw all or part of your tier 2 benefits

Both employer and employee contribute 5% of the total 18.5% into the tier 2 scheme.

No, your employer cannot access your tier 2 contributions. The entire accrued tier 2 benefits are vested in you and can be ported to another scheme when you leave your employer.

Generally, you cannot contribute more than 5% towards your tier 2. There are a few exceptions where individuals can contribute more than 5% towards their tier 2 which include:

  •  – if the employee is an expatriate
  •  – if the employee’s basic salary is over GHS 20,000.00 per month
  •  – if the employee at the time of joining the scheme was more than 45 years old

When you leave, your accrued benefits will be moved into a preservation account with Petra Trust. The preservation account is a separate account within the scheme where your funds will continue to be invested and you will enjoy the same services and benefits associated with being a member of the Petra Scheme.
If you are moving to a new company, you can instruct Petra Trust to transfer your accrued benefits to your new employer’s registered tier 2 scheme.

Yes, your accrued benefits will be moved to a preservation account with Petra Trust.

The regulator will appoint a new trustee and your accrued benefits will be transferred to the new scheme. The assets of the scheme are separate from the assets of Petra Trust. In an unlikely event that Petra goes out business, the regulator of Pensions will appoint a new trustee for your company and transfer your assets to the new trustee’s custody account.

You can use part or all of your tier 2 benefits to secure a mortgage for the acquisition of a primary residence

No, you cannot use your accrued benefits as collateral for a loan.

It is your asset and part of your estate. Where you have nominated beneficiaries, they will get it in accordance with Ghana’s law.

You can contact us via: Email: [email protected]

Telephone:

– 0302 740 963

– 0302 740 964

– 0302 763 908

You will receive quarterly statements. The statement captures the total monthly contributions made and the net returns on your accrued benefits. There is also an online portal for you to also check your contributions and returns at any time.