Tier 2 – Mandatory Occupational Pension
The benefits of this tier will be paid as a lump sum when the scheme member retires, dies or is declared to be disabled under the prescribed law.
Tier 3 – Voluntary Provident Fund (Formal Sector)
The benefits of this tier can be paid as a lump sum at retirement of portions of the fund can be paid to prior to retirement.
You have to have been in the scheme for 10 years to be able to access your funds.
Tier 3 – Voluntary Provident Fund (Informal Sector)
The law states that a portion of the informal sector provident fund contributions should be put into a pension fund and the other portion should be invested in savings vehicle.
Contributors can withdraw from the savings account at any time after the first five years of joining the scheme. Contributors will be able to withdraw before the five year period but will lose their tax savings.
Contributors will get a periodic payout of the pension portion of the account. The frequency of the pension payment will be determined by the contributor at the time of retirement.
Accra
Kumasi
Sunyani
Location :
141/21 Saflo Link
Abelemkpe,
Accra
SIC Building 1st Floor
Opposite Prempeh Assembly Hall,
Bompata-Kumasi
