When planning to travel for work, study, or relocation, one major hurdle many people face is meeting the Proof of Funds (POF) requirement. Many embassies require applicants to demonstrate financial stability, and while most people think only of bank savings, your Retirement Savings Account (RSA) can also serve as an important financial asset to support your travel plans.
Beyond being a mandatory contribution for retirement, your RSA is a steadily growing fund that strengthens your financial profile. With regular contributions and smart financial planning, it can serve as proof of long-term financial stability, which is often a key factor in visa approvals. However, to fully maximise this benefit, there are a few things you should start doing now.
First, ensure that you and your employer are making consistent contributions. Regular funding not only keeps your RSA active but also ensures that you maximise the steady returns we provide as your Pension Fund Administrator (PFA). If your employer isn’t remitting your pension contributions as they should, now is the time to follow up and ensure that every contribution is adequately remitted.
Second, consider Additional Voluntary Contributions (AVC) to boost your RSA balance. Unlike the mandatory contributions, AVCs allow you to grow your pension savings faster, and some of these funds can even be accessed before retirement. This means that if you ever need extra financial backing for your travel plans, a well-funded AVC account can provide additional support.
Lastly, staying informed about your RSA is crucial. By using our mobile app and
self-service platforms, you can keep track of your contributions, monitor your balance, and ensure that your funds are growing as expected. Regularly reviewing your account puts you in control and helps you make informed financial decisions.
Your RSA is more than just a retirement savings plan; it is a powerful financial tool that can support your travel goals. To use your RSA balance as part of your Proof of Funds, request an embassy letter from us through our mobile app, website, or self-service portal.
For more details, call Tomi or Chidogo on 02012714605, 08139856160, 0
+234 903 131 6029
