FAQs
What is the contributory 3-Tier Pension Scheme?
It is the new pension scheme established by the National Pensions Act, 2008 (Act 766) in 2010 that replaces the previous SSNIT pension scheme and other parallel schemes.
How is it different from the SSNIT scheme under the PNDCL 247?
This new scheme has a 3-Tier structure with private involvement in the management and an establishment of a regulatory body instead of the previous arrangement under PNDCL 247.
What is the objective of this scheme?
The objective of the scheme is to:
•Provide pension benefits to ensure retirement income security for workers•To ensure that any worker receives retirement and related benefits as and when due•Establish a uniform set of roles regulations and standards for the administration and payment of retirement and related benefits for workers in the public and private sector
What are the components of this contributory 3-Tier Pension Scheme?
This contributory 3-Tier pension schemes consists of:
1st-Tier – A Mandatory basic National Social Security Scheme2nd- Tier - A mandatory fully funded and privately managed occupational pension scheme3rd-Tier - A voluntary fully funded and privately managed provident fund and personal pension scheme.
What is the total contribution from the Employer and the employee into the 1st and 2nd Tier Mandatory schemes of the 3-Tier Pension Scheme and how is it different from the old SSNIT scheme?
The total contribution from the employer and the employee under the new scheme is 18.5% and is distributed as follows:
New Scheme (Act 766) Employer-13%
Employee-5.5%
Total =18.5%
Old SSNIT Scheme (PNDCL 247))-Employer - 12.5%)
Employee - 5%
Total= 17.5%
What is the position of the contributions paid to SSNIT between the period 2010 and 2012 before the full implementation of the 3 tier scheme?
The contributions between the period 2010 and 2012 were lodged in a Temporary Pension Fund Account (TPFA) at the Bank of Ghana. The process of transferring TPFA to registered schemes is ongoing. Contributors’ pension funds will be credited with the total amount invested and the interest accrued after the accounts have been audited.
What is the Health Sector Occupational Pension Scheme?
It is a registered tier 2 occupational pension scheme for all public health sector workers that provides a lump sum benefit for contributors on retirement
Who is a member of this scheme?
All employees of the public health sector are members of the scheme, both permanent and casual workers.
How are members contributions paid to the scheme?
Contributions for the permanent staff is received from the Control and Accountant Generals Department and that of casual staff (IGF) is received from the health facility.
How do I know I am enrolled on this scheme?
Follow the login details online to verify your details or contact our call center for assistance.
If after checking I am not enrolled, how do I get enrolled unto the scheme?
Contact your facility administrator/HR for an enrolment form or download the enrolment form from the website, complete and submit to your facility administrator/HR for approval, after which your administrator/HR will forward to the administrators of the scheme (Enterprise Trustees Limited) for processing. You will receive an email notification after your enrolment is completed
When I am transferred from one facility to another facility and already on CAGD payroll do I have to complete a new enrolment form?
You do not need to complete a new enrolment or notify us.
What if I move from IGF to CAGD payroll?
You will have to notify us to amend your records.
