Tax will be paid on the profit made from trading with the money in the Retirement Savings Account.
The new pension scheme will ensure that you receive your pension after retirement without any delay.
There will be a huge pool of long-term funds available for investments, which will lead to national economic development.
Pension Fund Administrators (PFAs) will issue regular statements of accounts and profit from investments to the employees.
Contributions to the new pension scheme are tax free.