Provident Fund Scheme

Provident Fund Scheme

The Secure Pensions Provident Fund Master Trust Scheme is as an open-ended multiple employer tier 3 pension scheme registered under the National Pensions Act, 2008 (Act 766) as amended.


Provident Fund Scheme
1. It is voluntary for employers and their employees
2. Contributions up to 16.5% of the employee’s basic salary may be made pre-tax towards the Scheme
3. It provides contributors with additional lump sum retirement benefits based on a defined contribution formula
4. 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
5. A withdrawal made before the tenth anniversary of a member’s first date of joining the Scheme and before retirement is subject to tax at 15%