What is Tier 2 – Master Trust Pension?
Tier 2 is a mandatory occupational pension scheme established under Ghana's 2008 Pension Act—part of a three-tier system aimed at enhancing retirement security. It targets formal-sector employees, requiring contributions from both employee and employer, and is administered by licensed commercial trustees, such as Standard Pensions Trust.
Contribution Structure
- 5% of your basic salary is deducted monthly and allocated to Tier 2.
- This is in addition to your employer's contributions to Tier 1 (SSNIT).
Scheme Objectives & Benefits
Provides a lump‑sum payout at retirement (or earlier upon meeting conditions).
Ensures financial security during retirement through professionally-managed funds.
Members can use their accrued Tier 2 and Tier 3 pension benefits as collateral to secure a mortgage for a primary residence.
Features strong investor protections: governed by NPRA, with strict caps on fees, fiduciary duty, and regulated investment vehicles.
Why Choose Best Pensions Master Trust Scheme?
Trusted by employers nationwide for secure and rewarding pension investments.
Superior Investment Performance
Their Tier 2 Master Trust promises above-average returns on contributions.
Rapid Access to Funds
Efficient claims processing post-retirement means minimal delays.
Digital Convenience
Online access to contributions and statements anytime, anywhere.
Nationwide Presence
With 8 branches and 200+ registered employers, we offer accessible local support.
Seamless Transitioning
Facilitates easy transfer of accrued benefits when changing employment.
Key Features at a Glance
| Feature | Details |
|---|---|
| Mandatory 5% contribution | Deducted monthly from your basic salary |
| Lump-sum payout | Available upon retirement or other life events |
| Primary residence support | Enables use of pension as security for mortgage facilities |
| Professional management | Licensed trustee with NPRA oversight; regulated investments & fees |
| User-friendly services | Online portal, SMS updates, branch network, rapid claim settlement |
| Portability | Benefits are fully transferable when changing jobs |
Eligibility & Access Conditions
You're automatically enrolled by your employer if they've contracted Standard Pensions Trust.
Withdrawals allowed after meeting retirement conditions:
- Retirement age (55–60)
- Unemployment (50+)
- Permanent disability
- Emigration or death
Benefit transfers: You can choose to keep your funds with Standard Pensions Trust or transfer them to your new employer's trustee.
Ready to secure your retirement?
Join the Standard Pensions Trust Master Trust Scheme today and take control of your financial future.