Tier 3 Provident Fund
Watch your retirement income grow.
₵2B+
Assets Under Management
600+
Companies
What is Tier 3?
The Tier 3 Provident Fund is a voluntary pension scheme designed for both employers and individuals who want to save in a tax efficient manner towards their retirement beyond the mandatory Tier 1 and Tier 2 contributions. It provides additional flexibility, allowing members to contribute regularly or occasionally, depending on their needs. The contribution limit is 16.5% of the employees basic salary.
Purpose of Tier 3?
The purpose of Tier 3 is to give you the freedom to build extra retirement savings tailored to your financial goals. Whether you are a salaried worker, self-employed, or running your own business, Tier 3 ensures you have a personalized pension cushion to secure the future you desire.
The Tier 3 Experience
Build wealth beyond Tier 1 and 2, ensuring a more comfortable future.
Tax Advantages
Enjoy tax relief through this scheme, maximizing your retirement savings.
Accessible Savings
Withdraw part of your funds before retirement under certain conditions.
Voluntary & Flexible
Contribute as much as you want, whenever you want.
Loan Collateral
Use your retirement asset as collateral to access loans at competitive interest rates.
Customizable for Employers
Employers can design provident funds that suit their staff’s needs and improve employee retention.
Redemption Conditions
Partial Redemption
Customers can make redemptions from their portion in their retirement account that they have contributed (must be in alignment with their scheme rules).
Tax
There is a 15% tax on all redemptions prior to the 10 year investment period.
Full Redemption
To access the employer contributed portion in the retirement account, the customer must have their employer notify United Pension Trustees through a letter.
Requirement for Death Redemptions
Step 1
Provide the deceased’s Death Certificate
Step 2
Provide letter from deceased persons’ employer confirming death
Step 3
Fill the Survivor’s benefit form provided
Note
If no beneficiaries are listed, a court-issued Letter of Administration is required.
