Pension » Tier 2 Occupational Pension Scheme

Tier 2 Occupational Pension Scheme


This is a defined contribution scheme set up by Enterprise Trustees Limited. It is a master trust scheme duly licensed to operate in Ghana. The Scheme targets employers to provide them with a one-stop solution to the management of their employee Tier 2 mandatory contributions.

The employers are either from private or public sector.Per the National Pensions Act, Employers are required to remit 5% out of the 18.5% mandatory pension contribution to a private Corporate Trustee on behalf of employees. Contributions are based on monthly pay and are deducted from gross pay before tax.

The Scheme is a defined contribution pension scheme, that is, a pension scheme in which the retirement benefit paid to members depends on the amount of total contributions and the investment returns earned on those contributions.


Retirement Benefits

The normal retirement date for the scheme is 60 years. 

  • Members will receive a lump sum benefit equal to the value of their contributions and investment returns.
  • Members will be notified of their eligibility to access their retirement funds 6 months before their 60th birthday. Apart from the normal retirement age, members will be entitled to receive their retirement benefits under the following conditions;
  • Voluntary retirement age at 55 years
  • Unemployment at age 50 with certification from the labour office
  • Permanent emigration (for expatriates)
  • Total incapacity (No age restriction)