Old Mutual declares 18% return on its savings products

Old Mutual declared a total bonus of 18 per cent on its Special Investment Plan (SIP) and Education Savings Plan (ESP).

This is a two per cent increase from the 16 per cent declared in February last year.

The Head of Retail at Old Mutual, Mr Emil Clive-Plange, said the SIP and ESP have seen exceptional performance over the past two years since Old Mutual’s entry into the Ghanaian market.

He explained that the bonuses demonstrate how Old Mutual’s customers enjoyed the good returns when the market performed well, but was well protected when the market fell sharply.

“Evidently, we are allowing our customers to maintain the long-term view on their investments and not worry about the short-term disruptions in the market. In essence, the SIP and Education Savings Plan are savings vehicles aiming to provide superior long-term interest rates and customer protection when the market falls sharply.

The Actuarial Executive at Old Mutual, Mr Erich Gariseb, said Old Mutual was renowned for its smooth bonus products across the continent and has helped millions of customers to meet their long-term savings needs.

The company’s products cover retirement planning, saving to buy a house and children’s education among others.

“This year, we managed to beat inflation over the same period, giving our customers real growth in their savings. We earn returns on the underlying assets and then declare annual bonuses to pass the returns to customers,” Mr Gariseb said.

The Head of Distribution, Madam Linda Mariwande, said investment markets could be a tricky road to navigate on one’s own, since there were many hazards.

“Our SIP and ESP are well positioned to navigate these challenging times, making us the ideal partner that you can trust on your savings journey,” she added.