The program is meant to help athletes secure retirement savings during their sporting years
The CEO of Victoria Mutual (VM) Pensions Management, Conroy Rose, is urging people in sports to give pension savings a lot of priority since it’s important to save their funds and manage their wealth.
Rose pointed out that Jamaica has many sportsmen and sportswomen in both track and field events who are among the high-level sportspersons in the world. He stated that it is essential that they make retirement plans since they will not gain much from the automatic pension registration provided by their employers.
Rose explained that VM Pensions is devoted to employing certain pension schemes that suite their lifestyles and professions. The firm executed this devotion last week when it hosted a formal signing event with quarter-miler and Olympian Christopher Taylor who officially signed to the VM Pensions Prime ARS (Approved Retirement Scheme).
The Prime ARS programme makes it possible for people who are not registered in plans sponsored by their respective companies to give towards a retirement savings project over their sporting years.
Youngsters of barely 18 years qualify to contribute in the project and may save between 5 and 20 per cent of their earnings in installments suited to their comforts such as annually, biannually, monthly or weekly.
The contract with Taylor was eased by his affiliation with Paramount Trading, a Jamaican manufacturing and distribution firm. He has Hugh Graham, Paramount’s CEO, as his mentor. Paramount Trading is listed as a member of the Jamaica Manufacturers and Exporters Association (JMEA).
In the recent past, VM Pensions Management established a contract with the JMEA which is to ensure that all member companies of the JMEA can access a compacted package which has the ARS and an entourage of other gathered contributions from the involved companies.
Moreover, VM was also the primary sponsor for this month’s JMEA 2022 M&E Awards whose purpose was to recognize directors in the productive sphere.