4TH QUARTER NEWSLETTER, 2018

Editor’s Desk

Micro Pension Plan

Features of the Micro Pension plan

Customer service week – Excellence happens here

INSIDE THIS ISSUE

INDUSTRY NEWS COMPANY NEWS HEALTH TIPS

ENTERTAINMENT

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11 Crossword Puzzle/Just for GiggleData recapture exercise3

AIICO Pension visits the senior citizens at the old peoples home Yaba.

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AIICO Pension's RSA Fund Performance as at 31st December 2018

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AIICO Pension and EdubridgePartnership

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Alzheimer's Disease – causes, symptoms, diagnosis and treatment

We welcome you to the 4th quarter edition of our Quarterly Newsletter for 2018.

Dear Esteemed Customers

In this edition we would be looking at the Micro Pension plan, which is to kick off in the first quarter of 2019.

Our usual exciting columns have all been included for your reading pleasure and we remain committed to providing excellent service delivery as your preferred PFA.

For more information on our activities and industry updates, please visit our website www.aiicopension.com or sign up to any of our social media handles.

Happy Reading.#LIVE SMART#

We gladly welcome all comments or suggestions you may have for us.

MICRO PENSION PLAN

The Micro Pension Plan is to provide for the self-employed and those in the informal sector of the economy towards retirement.

The National Pension Commission (PenCom) released a circular on the commencement of the Micro Pension Plan and the Micro Pension Plan will officially take effect January 29, 2019.

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• Targeted at self-employed workers, those working in the informal sector and/or not on fixed salary.

• The Contingent portion of the Pension fund contributed can be withdrawn by contributors before the Retirement age

• Strict regulation of the investment of Micro Pension funds to guarantee safety and fair returns on investment

• The scheme allows contribution of small amounts into the pension account

• Contributors would have access to the statement of their Pension account, i.e. total contributed funds and returns on investment, periodically

• It combines the elements of existing Pension scheme.

• It would have a flexible frequency of contribution and easy method of remittance

• The total contribution would be divided into two (2) portions namely; Contingent fund - 40% and Retirement benefit fund – 60%.

• The micro pension plan will have a simplified registration process utilizing physical channel, internet and mobile devices

• Individual Retirement Savings Account would be managed by PFAs; funds will be in the custody of the PFCs; and a special Micro Pension Fund to be established for flexibility of withdrawals.

Culled from PenCom Circular December 2018.

• No age limit for contributors to join the plan, but the individual must be above 18years. However, contributors must be 50years old before having access to withdrawal.

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FEATURES OF THE MICRO PENSION PLAN

DATA RECAPTURE EXERCISE

PFAs have been directed to commence the Data Recapture Exercise August 01, 2018 and conclude the exercise by January 31, 2019.

The Data Recapture Exercise is to regularize the challenges experienced with duplicate registrations, incomplete and inaccurate data obtained by Pension Fund Administrators (PFAs) from their registered clients.

The National Pension Commission (PenCom) released a circular on the commencement of the Data Recapture Exercise for existing contributors.

Culled from PenCom Circular November 2018.

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CUSTOMER SERVICE WEEK – EXCELLENCE HAPPENS HERE

Our customers that visited our offices nationwide received gifts with lots to drink and eat. We also received a lot of accolades from our clients during the celebration.

AIICO Pension celebrated its customers during the global Customer Service Week held October 02-05, 2018. The week was filled with lots of activities and our customers had the opportunity to participate in our lucky deep winning lots of exciting prizes.

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Some winners of our lucky deep challenge during the Customer Service Week.

From all of us at AIICO Pension, we wish the graduates the very best as they conquer the employment market.

AIICO Pension's partnership with EduBridge Academy on its graduate academy scholarship program was focused at supporting 75 graduates in key technical employability and soft skills through the EduBridge academy. We are commitment at preparing unemployed youths to achieve their career aspirations by training them with the necessary skills to increase their chances for employment via our various workshop and scholarship programs organized and sponsored recurrently.

The graduation ceremony took place at the Unilag staff school, University of Lagos, Yaba, and had in attendance AIICO Pension's Head of Strategic Planning & Corporate Communications, Mr. Olubankole Ekundayo who discussed career development matters with the graduates.

AIICO PENSION PARTNERS WITH EDUBRIDGE ACADEMY ON ITS GRADUATE ACADEMY SCHOLARSHIP PROGRAM

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Graduates of Edubridge Academy in a group photograph with representatives of AIICO Pension.

The residents of Old Peoples Home and staff appreciated our kind gesture. We were well received by the residents and staff of the home and there was lots to eat and drink.

In line with our commitment to associate with the Old Peoples Home, AIICO Pension visited the residents and Management of Old People's Home situated at 1, Lancaster Road Yaba Lagos State on the 6th of October 2018.

AIICO PENSION VISITS THE SENIOR CITIZENS AT THE OLD PEOPLES HOME YABA

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Management of the Old Peoples Home in a group photograph with representatives of AIICO Pension.

RSA FUND PERFORMANCE

• The Absolute Return on the RSA 3 is for a 6 month period beginning from July 2nd 2018*

• The Multi-Fund structure kicked off in July 2018 as directed by the National Pension commission. The Old RSA Fund has now been broken into 2 Funds (RSA 2 and RSA 3), while the Retiree fund will now be called RSA Fund 4.

• The RSA Funds' Performance has been attributed to the Fund Manager's strategic asset allocation strategy which is in line with the National Pension Commission's guidelines on Investment.

• We have maintained our decision to switch to high yielding short term risk free fixed income securities in a bid to get better returns.

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FUND DEC 2017 Unit Price DEC 2018 Unit Price ABSOLUTE RETURN

RSA 2 2.8558 3.1739 11.14%

RSA 3* 1.0000 1.0669 6.69%

RSA 4 2.7661 3.1490 13.84%

UNIT PRICE HISTORY

Alzheimer's disease is a neurological disorder in which the death of brain cells causes memory loss and cognitive decline.

What is Alzheimer's disease?

There is no cure for Alzheimer's disease, nor any proven ways to prevent its onset. Treatment focuses on support and managing symptoms to maximize a person's ability to function and maintain independence for as long as possible. The condition is ultimately fatal.

• History of a head injury• Down syndrome

While there is no known cause for Alzheimer's disease, some research studies have indicated that the following factors may play an important role in the development of the condition:

Researchers now believe that a combination of these lifestyle, environmental and genetic risk factors trigger an abnormal biological process in the brain that, over decades, results in Alzheimer-type dementia. Identified risk factors for developing the condition include:

• Environmental factors: such as long-term exposure to some environmental solvents

• Genetic factors: such as the presence of, or changes to, certain genes.

In Alzheimer's disease, brain cells start to deteriorate. The body attempts to stop this process by producing a protein called amyloid. However, amyloid deposits build up in the brain, leading to further deterioration. These deposits of amyloid are referred to as "plaques" and cause the brain cells to shrivel up and form "tangles", which in turn lead to changes in the brain structure and cause the brain cells to die. The formation of plaques and tangles also prevents the production of some important brain chemicals, called neurotransmitters (eg: acetylcholine, which is important in memory function). Over time the loss of brain cells causes the brain to shrink.

(e.g: pesticides, glues and paints) or infection with certain viruses or bacteria.

• Lifestyle factors: such as a lack of exercise, poor-quality sleep and a diet lacking fruit and vegetables.

• Increasing age

HEALTH TIPS-ALZHEIMER'S DISEASE

CAUSES

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• High blood pressure

• Risk factors for blood vessel disease such as smoking• Family history of Alzheimer's disease• Obesity

• Difficulty recognizing family and friends

Towards the later stages of the disease the following symptoms may be experienced: • Inability to understand or use speech

• Severe disorientation• Inability to recognize self or family

• Increasing short-term memory loss and confusion

• Personality changes (eg: aggression, significant mood swings)

• Increasing immobility and sleep time.

• Requires increasing assistance with daily tasks.

• Difficulty with reading, writing and numbers

• Incontinence of urine / feases

• Possibly neglectful of hygiene• Loss of appetite

• Shorter attention span and feelings of restlessness

• Confusion about time and place• Communication difficulties• Decline in ability to perform routine tasks.

• Mild forgetfulness – especially short-term memory loss

As Alzheimer's disease progresses the following symptoms may develop:

• Insulin resistance.• High Cholesterol

• Mood changes, including irritability and anxiety• Difficulty processing new information and learning new things• Loss of spontaneity and initiative

Symptoms commonly experienced during the early stages of Alzheimer's disease include:

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SYMPTOMS

DIAGNOSIS

• Mental status assessment to determine the level of mental deterioration• Caregiver interview to determine the level of dependency.

• Brain scans• Blood and urine tests• A neurological and physical examination

Scans to check brain structure and function may be recommended. The different types of scans used may include CT scanning (computerized tomography), MRI (magnetic resonance imaging) and PET (positron emission tomography).

There is a no single test to diagnose Alzheimer's disease. Diagnosis involves a full assessment of medical and psychiatric history to rule out other possible causes. Therefore, a variety of tests are required to obtain a conclusive diagnosis, which may include:

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TREATMENT

• Encouraging stimulating activities in order to encourage the person to continue their normal activities as much as possible

• Not smoking

• Treating medical conditions that may contribute to confusion or physical decline e.g: lung disease or anaemia

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• Providing memory aids and memory triggers such as calendars and written reminders

• Encouraging regular routine to reduce confusion• Contacting support groups that may be able to offer family/caregivers assistance• Encouraging social interaction to help prevent feelings of loneliness and depression

As there is no known cure for Alzheimer's disease, treatment focuses on managing symptoms and supporting the person and their family. This may include:

#JUST FOR GIGGLE#

SPENCER: A teacher!

TEACHER: Spencer, what do you call a person who keeps on talking when people are no longer interested?

ACCOUNT

APPROVAL

CONTRIBUTION

LUMPSUM

RECONCILIATION

SAVINGS

ANNUITY

BENEFITS

FORUM

PENCOM

RETIREE

APPLICATION

COMMISSION

INVESTMENT

PENSIONABLE

RETURNS

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