Old Mutual launches new retirement vehicle for savers concerned about returns
Earlier in June, long-term insurer Old Mutual Namibia sent out a very positive signal by introducing a new retirement product at a time when the economy at large is under severe strain, and the incomes of individuals have been affected negatively.
Catering for employees closer to retirement, the new product, the Core Growth Portfolio, is underwritten by Old Mutual’s Corporate Segment. It was launched officially on 09 June 2021 and streamed lived.
Corporate Segment Executive, Patricia Olivier said the Core Growth Portfolio is for employees who want to ensure that their assets grow appropriately, while protecting it against adverse market conditions. “This will in turn give employers peace of mind knowing that they have done their best to secure retirement savings for their employees.”
The Core Growth Portfolio is a long-term investment portfolio for steady growth together with valuable guarantees on capital and bonuses – designed to meet the needs of more conservative investors. The underlying asset portfolio has moderate exposure to growth assets of approximately 60%. This option offers smooth investment returns and lower investment and capital charges.
Old Mutual Namibia Group Chief Executive, Tassius Chigariro, explained the concept behind the Core Growth Portfolio, saying “This product was designed with our customers in mind and my desire is always to put the interests of our customers ahead of those of the organization. Doing this is good for the sustainability of the company. We must be prepared to deliver excellent products and excellent service to all our customers, corporates or individuals, big or small.”
“The Core Growth Portfolio is designed for your retirement savings. In our country, we see ourselves as the best financial services company where you can meet all your needs including building your wealth. The Core Growth is a portfolio that has a good combination of investment growth and protection,” concluded Chigariro.