Terms & Conditions
These terms govern your use of Standard Pensions Trust services and our commitment to transparent pension management.
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Acceptance of Terms
By accessing our website, opening a pension account, or using any of our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions and our Privacy Policy.
Agreement Scope
- • All pension services provided by Standard Pensions Trust
- • Use of our website and digital platforms
- • Member portal and mobile applications
- • Customer service and support interactions
- • All communications and documentation
Changes to Terms
We may update these terms periodically. Significant changes will be communicated via email, website notice, or direct mail. Continued use of our services constitutes acceptance of revised terms.
Our Services
Standard Pensions Trust is licensed by the National Pensions Regulatory Authority (NPRA) to provide comprehensive pension services.
Pension Schemes
- • Best Master Trust Scheme (Tier 2)
- • Best Personal Pension Scheme (Tier 3)
- • Best Provident Fund Scheme
- • Employer Sponsored Schemes
- • Account Booster Programs
Additional Services
- • Investment management
- • Retirement planning consultation
- • Benefit claims processing
- • Annual statements and reporting
- • Digital account management
Service Standards
We are committed to providing professional, transparent, and efficient pension services in accordance with regulatory requirements and industry best practices. Our services are subject to applicable laws and regulations.
Eligibility and Account Opening
General Eligibility
- • Must be at least 18 years of age
- • Valid identification (Ghana Card or equivalent)
- • SSNIT number for Tier 2 schemes
- • Completion of Know Your Customer (KYC) procedures
- • Agreement to terms and conditions
Employment-Based Schemes
- • Current employment with participating employer
- • Employer registration with Standard Pensions Trust
- • Completion of employee enrollment process
- • Minimum contribution requirements as applicable
Individual Schemes
- • Self-employed or employed individuals
- • Minimum initial contribution requirements
- • Regular contribution commitments
- • Bank account for automated payments
Account Verification
We reserve the right to verify information provided and may request additional documentation. False or misleading information may result in account suspension or termination.
Your Responsibilities
As a member of Standard Pensions Trust, you have certain responsibilities to ensure the proper management of your pension account.
Accurate Information
- • Provide truthful and complete information during enrollment
- • Update personal details promptly when changes occur
- • Notify us of changes in employment status
- • Maintain current contact information
Contribution Obligations
- • Make contributions as agreed in your plan
- • Ensure employer contributions are made (where applicable)
- • Report contribution discrepancies promptly
- • Maintain minimum balance requirements
Account Security
- • Keep login credentials confidential
- • Report unauthorized access immediately
- • Use secure devices for online access
- • Log out after each session
Compliance Requirements
- • Comply with all applicable laws and regulations
- • Provide required documentation promptly
- • Cooperate with audits and reviews
- • Report any suspected fraud or irregularities
Fees and Charges
Our fee structure is transparent and competitive, designed to provide excellent value while ensuring sustainable service delivery.
Management Fees
- • Annual management fee on account balance
- • Investment management charges
- • Custodial and administration fees
- • Regulatory compliance costs
Transaction Fees
- • Contribution processing fees
- • Benefit payment charges
- • Transfer and rollover fees
- • Document processing charges
Fee Disclosure
All fees are clearly disclosed in your plan documents and annual statements. We provide detailed fee schedules upon request and notify members of any fee changes in advance.
Fee Changes
We may adjust fees periodically to reflect changes in costs, regulations, or service enhancements. Members will receive 30 days advance notice of any fee increases.
Investment Risks and Disclaimers
Important Risk Disclosure
All investments carry risk, including the potential loss of principal. Past performance does not guarantee future results. The value of your pension account may fluctuate based on market conditions.
Market Risks
- • Fluctuations in equity and bond markets
- • Currency exchange rate variations
- • Interest rate changes
- • Economic and political uncertainties
- • Inflation and purchasing power erosion
Investment Principles
- • Diversified portfolio approach
- • Long-term investment horizon
- • Professional fund management
- • Regular portfolio monitoring and rebalancing
- • Compliance with regulatory investment guidelines
Performance Disclaimers
- • No guarantee of investment returns
- • Historical performance is not indicative of future results
- • Investment outcomes depend on market conditions
- • Regular contributions enhance long-term growth potential
Our Commitment
While we cannot guarantee investment returns, we are committed to prudent investment management, transparent reporting, and acting in the best interests of our members at all times.
Limitation of Liability
While we strive to provide excellent service, our liability is limited as outlined below, subject to applicable law and regulatory requirements.
Service Limitations
- • We are not liable for market performance or investment losses
- • System downtime or technical issues beyond our control
- • Delays caused by regulatory or legal requirements
- • Third-party service provider failures
- • Member's failure to provide accurate information
Maximum Liability
Except where prohibited by law, our total liability for any claim shall not exceed:
- • The fees paid by you in the 12 months preceding the claim
- • Direct damages actually incurred and proven
- • Amounts recoverable under our professional indemnity insurance
Excluded Damages
We shall not be liable for:
- • Indirect, consequential, or punitive damages
- • Lost profits or business opportunities
- • Emotional distress or mental anguish
- • Damages arising from unauthorized account access
Regulatory Protection
As a licensed pension fund administrator, we maintain professional indemnity insurance and operate under NPRA oversight, providing additional protection for member funds.
Termination of Services
Member-Initiated Termination
- • Written notice required
- • Transfer to another approved fund
- • Benefit payment upon eligibility
- • Settlement of outstanding fees
- • Account closure procedures
Company-Initiated Termination
- • Breach of terms and conditions
- • Fraudulent activities
- • Non-payment of required fees
- • Failure to update information
- • Regulatory requirements
Termination Process
Upon termination, we will:
- • Provide 30 days written notice (where applicable)
- • Calculate final account balance
- • Facilitate benefit payment or transfer
- • Provide final statements and documentation
- • Close all associated accounts and services
Important Note
Early withdrawal may result in tax implications and penalties. Please consult with a financial advisor or tax professional before making termination decisions.
Dispute Resolution
We are committed to resolving any disputes fairly and efficiently through our established complaint handling procedures.
Internal Resolution Process
- 1. Submit complaint in writing to our Customer Service team
- 2. Acknowledgment within 2 business days
- 3. Investigation and response within 15 business days
- 4. Escalation to management if required
- 5. Final response within 30 business days
External Resolution
If you are not satisfied with our internal resolution:
- • National Pensions Regulatory Authority (NPRA)
- • Financial Industry Disputes Centre
- • Ghana Arbitration Centre
- • Courts of competent jurisdiction in Ghana
Governing Law
These terms and conditions are governed by the laws of Ghana. Any disputes shall be subject to the exclusive jurisdiction of the courts of Ghana.
Contact Information
For questions about these Terms and Conditions or our services, please contact us:
General Inquiries
info@standardpensionstrust.com
+233 (0) 302 780 765
42 Nii Nortei Nyanchi Street
Dzorwulu, Accra, Ghana
Legal & Compliance
legal@standardpensionstrust.com
+233 (0) 302 780 765 Ext. 205
For legal matters, compliance issues, and formal complaints
Business Hours
Monday - Friday: 8:00 AM - 5:00 PM (GMT)
Saturday: 9:00 AM - 1:00 PM (GMT)
Closed on Sundays and public holidays
Thank You for Your Trust
By choosing Standard Pensions Trust, you're securing your financial future with Ghana's trusted pension administrator.