Occupational Pension Scheme



Occupational Pension Scheme

The Secure Pensions Occupational Master Trust Scheme is established as an open-ended multiple employer tier 2 pension scheme registered under the National Pensions Act, 2008 (Act 766) as amended.


1. It is mandatory for all employers irrespective of the staff strength
2. The contribution rate is 5% of the employee’s basic salary
3. Contributions to the scheme are tax exempt
4. For employees who fall outside the age limit for tier one at the point of joining the three tier pension scheme, all 18.5% of the employee’s contribution shall be remitted to the tier 2
5. It provides contributors with retirement benefits based on a defined contribution formula in the form of a lump sum
6. Contributors may choose from a bouquet of investment products under the scheme namely the Growth Fund, the Balance Fund or the Income Fund, depending on their risk personality and retirement horizon
7. Contributors can port their existing pension account in another tier two scheme to this scheme when they join