Market Fluctuation

Why your returns or principal could reduce

Pension Funds operate similarly to mutual funds by pooling money from many investors and investing that money in securities such as shares (stocks), bonds, etc. Savings Booster invests in the Petra Opportunity Pension scheme; thus, a Saving Booster customer is a unitholder and scheme member. Suppose you have invested in Savings Booster, your contribution is added to all the other Savings Booster contributions, and the money is used to buy units of the Petra Opportunity Pension Scheme. So whenever you make a deposit into your Savings Booster account, you are essentially buying units of the Scheme with that contribution or deposit. The price at which you buy units of the Scheme is known as the Scheme’s unit price. Knowing the Scheme’s unit price is essential because it tells you how much one scheme unit is worth.

To help us better appreciate this, we need to understand that:

  1. Pension Funds operate similarly to mutual funds by pooling money from many investors and investing that money in securities such as shares (stocks), bonds, etc.
  2. Savings Booster invests in the Petra Opportunity Pension scheme; thus, a Saving Booster customer is a unitholder and scheme member.
  3. Suppose you have invested in Savings Booster, your contribution is added to all the other Savings Booster contributions, and the money is used to buy units of the Petra Opportunity Pension Scheme. So whenever you make a deposit into your Savings Booster account, you are essentially buying units of the Scheme with that contribution or deposit.
  4. The price at which you buy units of the Scheme is known as the Scheme’s unit price. Knowing the Scheme’s unit price is essential because it tells you how much one scheme unit is worth.

For example, if the Scheme’s unit price on that day of your contributions is GHS 1.00 and you contribute GHS 50 into the Scheme, you will own 50 units. The units you own is calculated as your contribution amount divided by the Scheme’s unit price at the time of contribution (GHS 50/GHS 1 = 50 units).

Over time, the value of investment securities held by the Scheme increases or decreases depending on how financial markets perform. If financial markets perform well, your earnings in Savings Booster will grow steadily. However, if financial markets perform poorly, your Savings Booster earnings or principal may be negatively impacted. Though we all don’t wish to experience the latter, a few days or weeks may inevitably look like that in the year.

In summary, any time you see an increase in your Savings Booster earnings, it means that the Scheme’s unit price has increased. Conversely, a decrease in your Savings Booster earnings or principal also means that the Scheme’s unit price has decreased. The increase or decrease in unit price depends on how financial markets perform.

What should I do when my earnings are negatively impacted?

It can be frightening to see your principal or earnings reduce steadily, and the temptation is to withdraw your funds. However, that is instead a poor decision to take as emotions and panic trigger it. When financial markets perform poorly, we advise that you do not panic. These performances are often not permanent, and the financial markets recover after negative periods.

The mix of securities in the Savings Booster is structured to reduce the risk of such times. As the value of investment securities held by the Scheme increases with time, the unit price of the Scheme also increases. Meaning, the value of your units in the Scheme rises with time. This is because the fund managers of Savings Booster reinvest already earned interest to allow scheme members to benefit from compound interest (interest on interest). Meaning, the longer you stay invested in the Scheme, the faster your money grows over time because of compound interest. This also means that your already earned interest can decrease if financial markets perform poorly.

In summary, any time you see an increase in your Savings Booster earnings, it means that the Scheme’s unit price has increased. Conversely, a decrease in your Savings Booster earnings or principal also means that the Scheme’s unit price has decreased. The increase or decrease in unit price depends on how financial markets perform. We continue to carefully manage your investment to minimize the impact on your earnings or principal when financial markets perform poorly.

Savings Booster is a personal pension plan under the Petra Opportunity Pension Scheme – a licensed master trust provident fund scheme administered by Petra Trust with over 19,500 individuals invested in the Scheme. The Scheme has outperformed the average 91-day Treasury bill in the past seven years due to the robust investment policies and resilient strategies.

petra_admin
Comments:
  • Kakra
    Reply

    You only inform us about this after investing? SMH..why should my principal reduce? Let me withdraw my money to a more competitive scheme then.

    December 3, 2021 at 4:04 pm
  • sola
    Reply

    solaris

    December 3, 2021 at 9:22 am
  • kkkkk
    Reply

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    December 3, 2021 at 9:20 am
  • I every time emailed this webpage post page to all my contacts, since
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    November 24, 2021 at 4:21 am
  • Bogning Gordon Tembil
    Reply

    Check my statement of account

    November 23, 2021 at 6:11 pm
  • Bogning Gordon Tembil
    Reply

    I want to check my statement of account

    November 23, 2021 at 6:09 pm
  • Ellen Osaa Nimako
    Reply

    Principal can’t be reducing its savings for that matter.

    If I contribute on a certain date and I buy at a certain unit price on that date, then i buy at a fixed price unless you keep revaluing using the recent unit price which might be high or low.

    In this case low since according to you the market is not performing.

    I don’t think this is right so if I have to loose my principal amount it’s best to withdraw.

    November 20, 2021 at 8:59 am
    • LAW
      Reply

      I CONCORD WITH YOU. WHY SHOULD PRINCIPAL REDUCE DUE TO MARKET FLUCTUATION OR FINANCIAL MARKET. BEST IS TO WITHDRAW. I JUST DONT GERRIT??????

      November 29, 2021 at 8:19 am
  • Hello There. I found your blog using msn. This is a very well written article.
    I’ll be sure to bookmark it and come back to read more of your useful info.

    Thanks for the post. I will certainly return.

    November 19, 2021 at 8:33 pm
  • THOMASTINE AMORINE
    Reply

    I need more education on how PETRA works and how I can make good use of my contributions .

    November 18, 2021 at 8:56 am
    • Bright Kwabena Adevu
      Reply

      I convinced three of my friends to join Petra Trust. Now they are blaming me for misleading them. Petra, change your investment strategy. My Tier 2 which is with another Trust is still giving me positive returns. Why not yours?

      November 19, 2021 at 1:47 pm
  • Seth Charway
    Reply

    Not that I think you really care in any way, shape, or form; but I have really regretted convincing 4 of my friends to join your Savings Booster. I am even ashamed to engage them on the issue. Can you imagine that one of them had his tier 3 fund moved from a competitor to Petra, only for this to start happening at Petra. This is embarrassing & wrong! ….smh !!

    November 15, 2021 at 2:07 pm
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    November 15, 2021 at 12:44 am
  • John Doe
    Reply

    Kindly advise on where we can find the daily pricing for your savings booster scheme. Also, it would be good to have some visibility on exactly how many units a member holds when they login to their savings booster account. I believe this would help give some insight to your customers on exactly how you arrive at the balances and also to calculate for themselves, the current value of their investment.

    November 13, 2021 at 9:01 am
    • Leonard
      Reply

      Yes…very necessary

      November 15, 2021 at 5:30 pm
  • Kamaldeen Habib
    Reply

    Wait a minute guys, If the interests attracted are fluctuating I can understand because of how the financial market perform.
    But a reduction in the principal amount invested is unexplainable in this situation. My question is “Is this way of investment the only one Petra could find in the market? Why don’t Petra change to a more competitive investment choices and run away from this shrinking Principal thing?

    November 12, 2021 at 2:41 pm
  • Leonard
    Reply

    Well I have withdrawn half of my balance in the savings booster. Will buy 2year bonds at 20 coupon rate (which compares better than the 17% ytd on savings booster and won’t fluctuate.) At least that will make up for the Losses in the savings booster…
    If the situation does not improve, I will withdraw vthe remainder

    November 10, 2021 at 10:14 pm
  • ROCKSON ACHEAMPONG
    Reply

    PLEASE MORE CLARIFICATION IS NEEDED ON THIS… IT’S NOT DETAILED ENOUGH AND MORE SO CAN THERE BE A SITUATION WHERE OUR PRINCIPAL AMOUNT IS NOT AFFECTED AND SHOULD WE ASSUME THAT WE ARE GETTING RIFFED OFF GRADUALLY.

    November 9, 2021 at 5:36 pm
    • Dennis Casely-Hayford
      Reply

      I withdrew my deposit at the end of October, a month after I had opened the savings booster account. This is because, my principal amount was eroding, when I was told this would not be the case by the Financial Adviser who convinced me to open the account. I have since moved the money to an EDC fixed income trust account. I will not take unnecessary risks.

      November 10, 2021 at 1:24 pm
  • Yaw Agyare Duodu
    Reply

    Principal reducing? This is unheard of! Why should my principal reduce? Then it is better I keep my money in a normal savings bank or in a vault safe somewhere. Please come again, because I am not taking this at all.

    November 5, 2021 at 7:35 am
    • Yaw Agyare Duodu
      Reply

      Moreover, we should have been told this before investing our mines!

      November 5, 2021 at 7:37 am
  • Nana Baafi
    Reply

    Petra, addressing the above concerns will do you some good.

    November 4, 2021 at 3:10 pm
  • Tanko Issaka
    Reply

    With what you are saying then it defeats the purpose of the fund.

    November 3, 2021 at 12:18 pm
  • Adam Tanko
    Reply

    I’m very disappointed with this development_ why should the principal be affected by market shocks, this is unheard of considering what the scheme is suppose to be. I had high confidence with this savings booster but with this info you’ve just given, my confidence in the scheme is down. How am I suppose to invest in the long-term knowing that my principal is also at the mercy of market fluctuations, I can’t go long and wake up one day only to see all my investments vanish into nothing. We expect our investments be managed prudently and safely with our principals intact. Petra, you guys need to come clear! So we advice ourselves accordingly and look elsewhere with our monies.

    November 3, 2021 at 10:57 am
  • Nana Osiabour Yiadom IV
    Reply

    Petra Please come again.? You re not the only fund managers in this country. Something is wrong somewhere. We need better and further particulars? These red flags can cause you guys a lot as well as customers. We witnessed the shake up in the financial sector not long ago. We know that the next shake up will be your industry but if things are managed well , there is not way it will affect the principals of our investments. Never has it happened before especially with your product like saving booster as the name implied.
    You ‘re dealing with different people with different understanding of investment. Check your communication.

    November 3, 2021 at 9:38 am
  • Christian Atiemo
    Reply

    I am surprised that the contribution/principal can be affected because the Asset Allocation per NPRA Investment guideline is very clear ,the Asset Allocation to Equity can never affect total returns of the portfolio negatively, there is human interference and you might need to investigate it well. Savings Booster was marketed to us as a fixed income fund, let us know the asset classes and its allocation and not the usual grammar. So should we stop to do mutual funds on our own if there si no difference between that and pension fund.

    November 2, 2021 at 5:41 pm
  • Ayeyi Ansah
    Reply

    I joined not too long ago and I’m already seeing losses. What’s the essence of putting money here if my principal is going to be affected.
    I suggest that something be done about losses affecting the principal.

    November 2, 2021 at 1:42 pm
  • Kweku Osam
    Reply

    “It can be frightening to see your principal or earnings reduce steadily, and the temptation is to withdraw your funds. However, that is instead A POOR DECISION TO TAKE AS EMOTIONS AND PANIC trigger it.”
    Wow, someone needs some basic tutorials in marketing communication!!

    November 1, 2021 at 5:12 pm
  • Francisca Ashong
    Reply

    Well, if profit or revenue may reduce fine, but why must principal reduce when its a saving booster?

    November 1, 2021 at 4:14 pm
    • Seth Charway
      Reply

      I agree with you Francisca. The principal should be intact; only the returns should take the hit. At worst the current contribution to principal should take a hit at the time of contribution (could be because the unit price may have increased). Petra_Admin please COME AGAIN!

      November 2, 2021 at 9:14 am
    • Naa Ayele Armah
      Reply

      Same thing I was about to type! I understand your earnings fluctuate but this is the first time I’m hearing of the principle fluctuating as well. This is a mutual fund not a stock market so what’s going on???

      November 4, 2021 at 9:50 am
      • Seth Charway
        Reply

        I have really regretted convincing my friends (4x) to join the Savings Booster with you Petra. I am even ashamed to engage them on the issue. Can you imagine that one of them had his tier 3 fund moved from a competitor to Petra, only for this to start happening at Petra.

        November 15, 2021 at 1:58 pm
  • Nana Yaw
    Reply

    Worth reading but it still doesn’t explain why we have to loose returns to even affect principal.
    It is bold on members portal that over 60% of the funds are investment in GOG securities. This percentage should be able to withstand all shocks in other instruments our monies are invested in.

    Reduction in my fund tells me one thing!
    I need to advise myself to pull out and invest in a fixed income fund.

    November 1, 2021 at 3:36 pm
  • I disagree with you guys why is it call savings booster it means my savings should be increasing not reducing so please think about it and stop reducing my earnings or else I will advise myself

    November 1, 2021 at 3:15 pm
    • Dennis Casely-Hayford
      Reply

      That is exactly what I did. I withdrew my deposit a month after opening the account. I was told my Principal would be intact by the Financial Advisor. However, this was not the case. The money is now invested in a fixed income account.

      November 10, 2021 at 1:46 pm
  • Dominic Gyimah-Boakye
    Reply

    Dear Petra team, this is unacceptable. Please note, even though you decide to call this savings booster, these are people’s pension (Tier 3). You are telling us that we should expect to see that one day our hard-earned savings/pension has decreased. Please you have to up your game or i have one with have my pension ported to another fund manager.

    November 1, 2021 at 2:47 pm
  • Christian Nuom Gbaarah
    Reply

    I understand that there are fluctuations in the market but i am highly disappointed in management’s communication tactics. I receive ‘unnecessary’ emails on May Day and some other irrelevant stuffs yet something of this importance has taken you almost a month to communicate to us. This is too poor on the part of management.

    October 31, 2021 at 5:43 pm
  • Andrews
    Reply

    You people should have informed your clients earlier about the fluctuations. It is absolutely disappointing on your part to say anyone’s decision to withdraw his/her money as poor. You should be up and doing. You waited till people started people started withdrawing their monies, and you are here talking anyhow. I’ve introduced people to the Savings Booster and they have all withdrew monies.

    October 31, 2021 at 3:36 pm
  • Solomon
    Reply

    There is no bank that will operate a savings account for you and turn back to tell you they are making losses and hence your principal will be affected. Why should petra savings Booster be different. If the share prices you invested went down, it does not mean u should affect my capital invested. Seriously I have already advised myself.

    October 30, 2021 at 9:12 pm
  • Saddo
    Reply

    I have been with Petra for almost 6 years and have never seen this before. However, I believe we are seeing this trend because were are able to get a view of the day-to-day performance of the fund. Hence, if we were only seeing this after every three months we would not have been this alarmed; considering that the annualized YTD rate has decreased; which is quite understandable. I would wait for 2 months and be guided appropriately by the pattern of growth (or otherwise) and then make a final decision. I am hoping the market would turn while I gear myself up to adjust at the sails if need be.

    October 29, 2021 at 8:25 pm
  • Rule
    Reply

    you call ones decision to withdraw as “poor and emotional” ? Interesting, unfortunately you don’t teach me what to your my hard earned monies for so i will take the most prudent decision to safeguard my interest… NO fluctuation whatsoever shd affect the principal

    October 29, 2021 at 2:49 pm
  • Ransford Affotey
    Reply

    This explanation is totally unacceptable. As other commenters rightly stated, saving in banks then is far more profitable than enrolling in this scheme (interests accumulated over periods will be added to the main principal which in essence is compound interest, with no fear of reduction in one’s principal). If the company cannot at least guarantee the returns of one’s principal (interests not inclusive), then it cannot be considered a laudable scheme.

    October 29, 2021 at 6:26 am
  • Solomon Kane
    Reply

    I just joined end of last month and I am already reading all these concerns. Interesting as it may be, it is reducing my confidence in the scheme and as such, will hold on with future deposits as the explanation given doesn’t suffice if Petra is going strictly by the Act.
    The Act enjoins pension fund managers to allocate 95% in safe fixed securities which is insulated from the shocks in the market in that should there be shocks, the real value is not affected. Only that the rate of increment in the interest growth is reduced. At the long run, the growth is at a decreasing rate. So there is still growth but not at an increasing rate.
    What i see here is more than the allocated 5% per the Act to be invested on the fluctuating market has been invested by Petra and hence the investment is not “safe” and at the mercy of the fluctuating market. Petra should come again.

    October 28, 2021 at 4:47 pm
  • Leonard Armah
    Reply

    Seth, pls if there is an extended downturn in the bonds market, how does it affect bonds that are already in issue since their coupon rates no matter the downturn are fixed.

    At worst I expected the growth in my earnings to reduce but not the earnings itself….it’s unfortunate the absolute values of our earnings is rather dwindling….why don’t I take my money to buy a government bond and enjoy a fixed coupon rate irrespective to the situation on the market.

    October 28, 2021 at 12:55 pm
    • At Petra, we value our bond securities with market prices, so when the prices of bonds go down, the same is applied to the value of the bonds in our schemes. Consequently, given that the schemes hold a lot of government bonds, this period we are experiencing where prices are falling will impact the scheme’s performance. So during periods where the bond prices rise, we will see that reflected in the value of our bonds, and the superior returns the scheme will post. Over some time, you stand to make more from this valuation method.

      November 1, 2021 at 12:53 pm
  • Emi Mimi
    Reply

    Exactly what I asked them some time ago. I have invested in savings booster for over 4 years and this is the first time ever I’m being told this long story. They never explained it that way in the beginning like the way they have explained it in the Achieve App. Now I don’t even know the difference between Achieve App and Savings Booster. They always have excuses when they start taking all your money back. I’m so disappointed

    October 28, 2021 at 11:06 am
  • Nii S. K
    Reply

    Thanks Petra for the explanations. I am not well vexed in money markets and investment parlance but I believe the scheme should do the following to foster investor confidence and retention.
    1. Balance the mix of securities in the scheme to protect investors’ principal as well as already earned interest/income. As has been intimated here already, it is very scary to see one’s principal and already income dwindle.
    2. Proactively engage/educate investors about imminent market shocks as being experienced to minimize panic.
    3. Utilize expertise for forecast how long such shocks should be expected and communicate same to investors.
    I personally felt disappointed when I asked about how long the market downturn is expected to last only to be told that it cannot be predicted. I mean we confidently invest our monies with Petra because of your marketed expertise to better manage our funds. I therefore think it is not far fetched to expect Petra to be in a position to project and predict some of these fluctuations.

    October 27, 2021 at 7:24 pm
  • One Ike
    Reply

    Yours above partially accepted cos I do not want to delve deep into this to exhume certain grievances I had before but to ask, why the introduction of “ Achieve” even when we have Savings booster?

    October 27, 2021 at 1:50 pm
  • The explanation is similar to how your “Achieve” invest operates.

    Can you explain why the change since the establishment of Savings Booster?

    October 27, 2021 at 12:46 pm
  • Francis kaglo
    Reply

    Then I need my money to put in the bank and I will not experience this . This issue we have to write to the government. I feel something tricky is happening here. I don’t want to leave my money with you then at the end of the day you tell me that my contributions has been swallowed up in market fluctuations.

    October 27, 2021 at 9:50 am
  • Dear petra,
    This your explanation does not add up. Invest the monies in ventures that don’t affect the maturity outcome. Go to the market and do your investment you know shareholders will make profit on their investment, don’t go and dump our principals in an investment pool open only for market fluctuations to eat up our principal and profit. I honestly don’t understand what you guys are doing here.

    October 27, 2021 at 9:40 am
  • Francis Ayerakwa
    Reply

    No ordinary person will invest in any transaction which is not on a sound footing. Other trustees that I have Tier 2 & Tier 3 from my former employers, hardly have I seen/observed any reduction in my balance. If I have GHc 1000.00 in my saving booster account and at the end of the month the financial market performed poorly, there is no way my principal amount should reduce. It is understandable telling the client/customer that no interest was gained for that one-month period instead of deducting from the client’ principal amount. I am therefore afraid to loose my entire amount as there is no guarantee in the financial market.
    Ordinary saving account in the bank , in my view is better than this Saving Booster/Tier 2 investments.

    October 26, 2021 at 10:48 pm
    • Nelson kwame Nyoobila
      Reply

      In American Got Talent, The judges will say;
      HOW DID U DO IT,
      I MEAN HOW,
      Show me the direction to close the account.

      October 27, 2021 at 2:21 pm
    • Hi Francis,

      The valuation of our investments in our scheme is different from the common practice in our industry. Our approach is to value securities using current market prices to ensure that entry and exit members are treated fairly (at an accurate and fair price). Because financial markets’ performances are not permanent, you stand to make superior returns during periods when financial markets do well. Overall, our valuation approach provides superior returns over other investments in the market.

      November 1, 2021 at 12:35 pm
  • Gifty Osekre
    Reply

    reading from the above explanation on how our Savings Booster is invested, then, i will aske if this is a way of taking our monies from us, just as Data bank did some years back?

    If i may asked, is the 3rd Tier also invest as a Mutual Fund?

    Then we will come redraw our investments.

    PETRA don’t disappoint your customers.

    October 26, 2021 at 4:02 pm
  • John
    Reply

    Thanks for the effort to explain but Should we assume that your market strategies are failing now.

    This has been the trend for some time now and if this is what we bargained for am sure most of us will rather be in the stock market ourselves, not in a mutual fund and definately not one managed as pensions fund.

    October 26, 2021 at 3:13 pm
  • Michael Nyemitei
    Reply

    Hello Admin. Please, respond to Shallon Nkrumah’s piece. I think he has a sound submission. Thank you.

    October 26, 2021 at 11:23 am
    • Hello Mike,

      I hope you have read the reply. Please feel free to engage us if you have any questions.

      Thank you.

      October 26, 2021 at 6:32 pm
  • Alex Ashitey
    Reply

    Thanks a million for the clarification.

    October 26, 2021 at 8:44 am
  • Bismark Boadu
    Reply

    Historically, how long does it take for such losses to halt?

    In this very instance, I have seen losses since September.

    October 25, 2021 at 3:36 pm
    • The last time our bond financial markets performed poorly, this performance lasted for about 2months. However, since this is a long term fund and these performances aren’t permanent, we encourage you to exercise patience and stay calm as we believe that the market will perform better much sooner than later. You will start to enjoy superior returns.

      November 1, 2021 at 12:49 pm
  • Edmund Larbi
    Reply

    Thanks very much for this piece of education.

    October 25, 2021 at 1:24 pm
  • Richard Paddy
    Reply

    I was getting worried but i think your piece above explains it

    October 25, 2021 at 1:08 pm
  • Shallon Nkrumah
    Reply

    It is true that pension schemes operate as mutual schemes but the assumption that all the attributes of a mutual fund can and will be experience by a pension fund is not entirely accurate as the situation in Ghana is different.
    The difference stems from the fact that in Ghana, pension funds are given a set of investment vehicles to invest the funds in and per the pensions act of Ghana, equity investments are not suppose to be more that 5% with the 95% invested in money market instruments and bonds.
    The 95% investments cannot experience a negative returns but may experience a decreasing returns on investment and still experience an ultimate increase in fund balances.
    However, it is only the 5% that can experience a negative returns which cannot ultimately wipe out all the returns from the 95% investments. A reducing fund balance in the short term can only be explained by either an increase in equity investment which is yielding negative returns or the fund is experiencing capital flight hence money market investments are reducing with decreasing returns.
    Thank you

    October 25, 2021 at 9:17 am
    • Hello Shallon,
      You hit the nail right on the head. Yes, you are right about the asset allocation policy guidelines governing pension funds compared to classic mutual funds. However, as of the article’s publication, the cause for the drop in return was rather the bonds(government security) and not equities, as you may have thought. As per the nature of the assets allocation guidelines, most pension funds have decent exposure in government-issued securities, so an extended market downturn in some of these securities(especially on the secondary market) can have that much effect on your returns depending on the exposure.

      You may also use the various securities help by your scheme on your dashboard. I hope this helps?

      October 26, 2021 at 6:26 pm
      • Shallon Nkrumah
        Reply

        Hello Seth,
        Thank you for the clarification. Please are you saying that the reduction in returns is as a result of petra’s exposure on the happenings on the secondary market?
        per what I know, the secondary market help investors who wants to have access to liquidity before the maturity of the bond. This therefore means the investor will trade at a discount to enable the buyer of the bonds enjoy the discounted returns at maturity. Hence is petra trading bonds purchased from the primary issuer (the government) on the secondary market for liquidity?
        Also the secondary market in no way have much effect on an established returns announced by the government when the bonds are issued provided they are not turned in for liquidity before maturity. This therefore may mean that there is capital flight from the pension fund hence your cash reserves are not enough to redeem such withdrawals hence going to the secondary market to get more liquidity.
        Please all we are saying is you must establish what is causing the reduction and stop it because year on year, the increase in petra’s pension fund is more than the withdrawals and also other pension funds operating with the same asset allocation guidelines are seeing increasing returns to which I can attest to.
        Thank you and hope to hear from you again.
        Shallon

        October 28, 2021 at 8:53 am
      • Alex
        Reply

        Whatever the case will be, your returns should be affected and not the principal. The problem here is the principal that is reducing not the gains/returns

        October 30, 2021 at 6:45 am
  • Awini Issaka
    Reply

    What is savings booster rate as at today

    October 25, 2021 at 9:17 am
    • Hello Issaka,

      Kindly login to your members’ portal account and click on the Savings Booster deck to get an updated rate for Savings Booster. You will also be able to see the fund’s historical performance and a 24hr update of its price. If you require any assistance, please do not hesitate to initiate a chat with our customer service representatives via the portal’s chat feature.

      Thank you.

      October 26, 2021 at 6:35 pm
  • Ebo Yawson
    Reply

    Can one withdraw all his or her contribution of opportunity scheme after 10yrs?and update information needs to give to workers because not all workers have access to this website, Thanks

    October 24, 2021 at 6:32 pm
    • Yes, please, you can. However, if you have some employer contributions, then you may have to check with your employer to be sure you meet any vesting rules that may apply.

      October 26, 2021 at 6:38 pm
  • Benjamin Eyison
    Reply

    I see this to be a deception. It was never communicated to me during the marketing of this product to me. How can I loose a savings because of financial market condition? Its not fair, so disappointed.

    October 23, 2021 at 11:18 am

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