Retirement

How the Retirement Plan Works

• You can contribute as much as you like, with a minimum premium of RWF 3 000 per month. The entire net premium of loading is invested in a retirement account.
• You can increase your premium at a given rate and at any given time period.
• You have the possibility at any time to increase your premium or to pay special premiums to keep up with inflation. 
• You also have the possibility to reduce your contribution to each anniversary date of your contract.
• You can change a beneficiary, the address, or duration of your contract.
• Your retirement account will be credited with a compound interest rate of 3.5% minimum per year. In most cases it is credited with at least 50% of income and capital gains realised on the investments of the company. In total, your savings should be growing at an estimated rate of 6.5%.
• The death insurance is capped at 10 annual premiums for a maximum duration of five years, and the insurance is renewable.
• Annual notification: At the end of every year of insurance, the subscriber receives a status of the account. 
• The capital payable to the term is equal to the whole account.

Buy Back Operations and Reduction
You can request a partial or complete withdrawal of funds after a period of three years. After at least three years of contribution, your contract can be put in reduction if you can no longer continue the contributions and you will wait until the terms of the contract to benefit from the value of reduction. A reduced contract can be reactivated any time.

The Options for Regulations of the Foresight-retirement
In the event of death or the terms of the contract, the beneficiary has the possibility to choose between the following options:

• Immediately receive the sums due (account retirement or death) or
• Transform the sums due in annuities or annuities certain.