Understanding your withdrawals
Every contribution you make is split into two pots. Understanding that split is the key to knowing when — and how much — you can take out.
ACCESSIBLE
50%
Contingent portion
Available 3 months after your first contribution.
LOCKED
50%
Retirement savings
Held until you reach age 50.
Contingent withdrawal
Short-term access — the half of your savings you can reach before retirement.
- When can I withdraw?
- 3 months after your first contribution — no matter how much you’ve put in during that window.
- How much?
- Up to the full balance of your contingent portion, once the waiting period has passed.
- How often?
- After your first withdrawal, once every 2 calendar months.
- How is it paid?
- Into your registered bank account, typically within 24 hours of approval.
- Does it grow?
- Yes. Left alone, your contingent balance stays invested and grows with fund performance — it isn’t frozen at what you contributed.
- Can I lock it in instead?
- Yes. At the end of any year you can move your contingent balance into your retirement savings rather than withdrawing it.
Retirement benefits
Long-term access — the half locked away for the years you stop working.
- When can I access it?
- Once you reach age 50.
- How do I receive it?
- Either as a lump sum of the full retirement balance, or as Programmed Withdrawal — regular payments spread over time.
- What about my contingent balance?
- At retirement you may transfer whatever remains of it into your retirement savings, combining both pots.
Where your money is invested
Both portions are invested in one of two PenCom-designated funds.
| Fund | Type | Risk & return |
|---|---|---|
| V-A | PPP Conservative Fund Default | Lower risk, focused on preserving your capital |
| V-B | PPP Growth Fund (opt-in) | Higher risk, higher potential returns |
Unless you actively choose Fund V-B, your contributions go into the conservative Fund V-A.
A quick example
You deposit ₦50,000 to start, then contribute ₦5,000 weekly for about 13 weeks (roughly 3 months).
| Total contributions | ₦115,000 |
| Contingent portion — withdrawable after 3 months | ₦57,500 |
| Retirement portion — locked until age 50 | ₦57,500 |
Request a withdrawal online
You’ll soon be able to start a contingent withdrawal right here, straight to your registered bank account. For now, please speak to your Majestic APA agent or your PFA to make a request.