Trustfund Pensions has advocated the entrenchment of savings culture in the youth of the country, noting it would encourage them to imbibe savings as adults.
Managing director of Trustfund Pensions, Mrs. Helen Da-Souza, in her address at the prize giving ceremony of the 2019 Trustfund Pensions Essay Competition for senior secondary school students in Government Schools in the Federal Capital Territory said there should be no age restriction to savings.
She explained that the topic, “Savings Should be Considered a Virtue and Followed as a Practice, Discuss” was carefully chosen not just to expose the students to savings, but also to make them see savings as a great personal virtue.
She noted that the competition, organised in commemoration of the World Savings Day, an annual event celebrated worldwide on October 31, was in accordance with a directive from PenCom for all pension fund administrators to voluntarily participate in the celebration.
She said, “Trustfund Pensions Limited decided to organise this annual essay competition as a platform to introduce the savings culture to our youth as part of the process of preparing them for their leadership roles in the future,” she said.
“It is our belief that there is no age restriction to savings and the earlier we teach our young ones the enormous advantage of savings, the better they appreciate its essence and adopt it as a lifestyle.”
She added that when they are gainfully employed or become entrepreneurs, they will need no persuasion to join the contributory Pension Scheme (CPS), and save for their retirement, as the savings culture would have already become a lifestyle for them.
According to her, the event was part of the PFA’s robust corporate social responsibility (CSR) initiative, stating that it was part of the organisation’s channel of giving back to society, thereby touching the world.
She recalled that, last year, Trustfund Pensions piloted the maiden edition of the competition in collaboration with the FCT Secondary Education Board where 67 government senior secondary schools in the FCT participated.
She said that this year’s edition commenced in July 2019 with notification of the essay topic as approved by the FCT Secondary Education Board.
“Just like last year, students from all the 67 Government Senior Secondary Schools in the FCT participated in this year’s competition and a team of teachers within the FCT were selected to mark the scripts and the best 10 essays were shortlisted.
“Today, we are here to celebrate the students who have emerged as the top 4 students in this year’s essay competition. We appreciate the effort they have put in so far and wish them the very best in their future endeavours”, she said.