This refers to a benefit scheme by which an employer and an employee contribute into a fund that is invested to provide the employee with a pension on retirement either as an annuity or as a lump sum.

It is a contributory three-tier scheme set up by the National Pensions Regulatory Authority to ensure retirement income security for all workers in Ghana.

Level 1, referred to as tier 1, is a mandatory basic national social security managed by SSNIT with a constituted Board of Trustees.

Level 2, referred to as tier 2, is a mandatory occupational pension scheme managed by a Corporate Trustee who appoints a Fund manager and a Custodian.

Level 3, referred to as tier 3, is a voluntary Provident Fund /Personal pension scheme for workers and self-employed workers in the informal sector. The contributions are managed by a Corporate Trustee who appoints a Fund manager and a Custodian

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.

Once your organization appoints Enterprise Trustees as its Trustee, after completion of the necessary documentation, your organization   and your staff are automatically enrolled.

1. The Human Resource Manager will be provided with an enrolment form to be completed by members. This will provide us with their bio data to enable us enroll them onto the scheme.
2. Once enrolled, members can then register on the member online portal ‘The Stable’ (https://thestable.enterprisegroup.net.gh:8085/Mss/) with their mobile number.
3. The Stable provides employers and employees access to view their corporate and individual statement.

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.

1. All contributions paid by the employer on behalf of staff are invested and allocated to the individual pension account of employees.
2. Any returns made on the investment will be added to the individual employees’ pension account.

• 24-hour access to Employer and Member Online Portal ‘The Stable’
• Monthly SMS notification to members on allocated contributions
• Monthly e-mail summary statement to members.
• Call Centre available to address member concerns.
• Dedicated relationship manager to educate staff and address any other issues
• Periodic Newsletter to provide members with relevant pension news and help them better prepare for retirement.
• Prompt processing of retirement benefits and transfer requests

Funds are invested in accordance with the National Pensions Regulatory Authority (NPRA) investment guidelines which provide maximum percentage limits in the permissible investment options.

The ET2OPS funds are managed by Fund Managers who have been appointed by the Trustees and tasked with investing assets of the fund.

The Trustees also appoint a Custodian to keep custody of cash, securities and documents of assets belonging to members.

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)

If an employee dies as an active member before the age of 60, a lump sum equal to the value of his/her contributions and investment returns will be paid to his/her nominated beneficiaries.