Petra Trust Sets Precedent

Selecting the right pension experts could help this woman to enjoy a happy pension

The most important but difficult decision people make in order to increase their chance of comfortable retirement is the selection of a trustee to oversee their Tier 2 and Tier 3 pension investment while they are busy with life.

By selecting a pension expert who has world-class administrative and investment skills, workers can be confident that their hard-earned contributions would be properly managed and grown.

Petra Trust is a company set up to provide trustee services to Ghanaian employers and individuals under the Pension Act 2008. The company is led by investment practitioners with decades of experience in asset management and finance experience in the US and West Africa.

“Our services give our clients’ employees the best opportunity to achieve a financially secure retirement, while ensuring that their legal and fiduciary obligations are met. We provide a complete solution by applying our world-class expertise to the establishment of pension schemes and to the areas of education, investment policy and asset allocation, manager selection and evaluation and fund administration,” said Kofi D. Fynn, Managing Director of Petra Trust Company Limited.

Prior to founding Petra Trust, Kofi was Chief Operating Officer in charge of Asset Management at Oceanic Capital Company Limited (OCCL), the investment banking subsidiary of Oceanic Bank International Plc.

At OCCL, Kofi was responsible for setting and implementing the strategy for asset management business, as well as co-managing the day to day operations of OCCL.

Planning for your retirement can be nerve-racking as you approach retirement, and can still be a minefield for those people who start planning for retirement early. As the Pensions Expert, Petra makes planning for your retirement a breeze.

“When you start planning for your retirement in your twenties and thirties, you give yourself the best chance to retire comfortably and to be able to support your family in later years. Think of it this way, if you save 10 GHS at a 10% interest rate, in five years the value of your investment will be worth 16 GHS, in ten years your investment will be worth 26 GHS and in 20 years your investment will be worth 67 GHS. During the first 10 years of investing your investment grows by 16 GHS while during the next 10 years it grows by 41 GHS, showing that the longer you invest the more growth you get in your investment,” Mr Fynn continues.

The Pension Act of 2008 puts all Ghanaian employers in a position of deep regulatory responsibility. Under the law, every employer is required to establish a Tier 2 Occupational Pension Scheme for the benefit of their employees, and has a fiduciary responsibility to appoint and evaluate the Trustee. A trustee is also required for any Tier 3 Provident Fund Schemes the company may choose to establish.

As the leading corporate trustee in Ghana, Petra Trust is committed to deploying its significant expertise and resources to ensuring that clients’ Occupational Pension Schemes and Provident Fund Schemes are established and managed to provide them with the best chance of a comfortable retirement.

“By choosing Petra Trust, you can focus on your core business, knowing that all your pension obligations are taken care of,” Chris Hammond, Deputy Managing Director of Petra Trust assures.

The company additionally provides services such as investment policy formulation where it designs robust investment policies that ensure the right inputs into the investment process and its evaluation. Also it ensures strategic and tactical asset allocation that contributes more than 90 percent of the investment return of your fund and Petra Trust approaches this function with the level of competence and care that it deserves.

“We apply our knowledge of the behavior of and connectivity among the different asset classes to determine how they will return in our medium to long term forecast for the global and domestic economy. We then allocate your assets to the different asset classes in a way that maximizes the potential return while controlling for downside risk.”

With its benchmark design, the company designs appropriate investment benchmarks to replicate each asset class. These indices are used to validate and evaluate asset allocation decisions. In addition, these provide a means of measuring the performance of each fund manager as the returns they generate in their portfolio allocations are measured against a benchmark.

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