Scheme Rules & Regulations
Comprehensive governance framework and operational guidelines for all Standard Pensions Trust schemes
Best Pensions Master Trust Scheme
Multi-employer pension scheme designed for organizations looking for comprehensive retirement solutions.
Definitions & Interpretation
Scheme Establishment
Occupational pension plan designed to provide retirement benefits to participating employees of multiple employers under a single trust arrangement.
Defined contribution scheme with the potential for additional voluntary benefits.
Scheme Objectives
To provide sustainable and equitable retirement income security for Members
To ensure prudent investment and risk-adjusted growth of contributions
To comply with all legal and regulatory requirements governing pension schemes
To foster trust, transparency, and professional governance in pension management
Governance Structure
Trustee Responsibilities
- Overseeing the governance, administration, and investment strategy of the Scheme
- Acting in the best interests of Members
- Appointing professional service providers, including Investment Managers, Custodians, and Actuaries
Advisory Committees
Investment Committee
Oversee asset allocation and performance
Governance & Compliance
Ensure regulatory adherence and ethical conduct
Risk Management
Evaluate and mitigate financial and operational risks
Contributions
Employer Contributions
- Fixed percentage of employees' salaries as prescribed in Scheme Rules
- Additional voluntary contributions to enhance employee benefits
Employee Contributions
- Statutory minimum percentage of their salaries
- Voluntary contributions subject to regulatory limits
Investment Policy
Scheme assets invested prudently in accordance with Investment Policy Statement
Investment Manager ensures diversification to optimize returns while minimizing risk
Quarterly reviews of investment performance with necessary adjustments
Clear Statement of Investment Principles (SIP) to guide asset allocation
Benefits Structure
Retirement Benefits
- • Accumulated contributions and investment returns
- • Phased withdrawals or annuity purchases
- • Subject to scheme rules and regulations
Death Benefits
- • Benefits paid to designated beneficiaries
- • In accordance with Scheme Rules
- • Proper documentation required
Early Withdrawal
- • Total disability or permanent emigration
- • Hardship withdrawals subject to approval
- • Limited to allowable conditions
Compliance & Administration
Regulatory Compliance
- All applicable pension laws and tax regulations
- Anti-money laundering provisions
- Annual audits by independent external auditor
Administration
- Timely collection and recording of contributions
- Processing of benefits and audited financial reports
- Member Services Unit for personalized support
Dispute Resolution
Any disputes arising under this Scheme shall be resolved through mediation, failing which arbitration shall be conducted in accordance with the governing arbitration laws.
Members may appeal decisions through the Pensions Ombudsman or relevant regulatory bodies.
Best Personal Pensions Scheme
Individual pension plans for self-employed professionals and those seeking additional retirement security.
Definitions & Interpretation
Scheme Establishment
Occupational pension plan designed to provide retirement benefits to participating employees of multiple employers under a single trust arrangement.
Defined contribution scheme with the potential for additional voluntary benefits.
Scheme Objectives
To provide sustainable and equitable retirement income security for Members
To ensure prudent investment and risk-adjusted growth of contributions
To comply with all legal and regulatory requirements governing pension schemes
To foster trust, transparency, and professional governance in pension management
Governance Structure
Trustee Responsibilities
- Overseeing the governance, administration, and investment strategy of the Scheme
- Acting in the best interests of Members
- Appointing professional service providers, including Investment Managers, Custodians, and Actuaries
Advisory Committees
Investment Committee
Oversee asset allocation and performance
Governance & Compliance
Ensure regulatory adherence and ethical conduct
Risk Management
Evaluate and mitigate financial and operational risks
Contributions
Employer Contributions
- Fixed percentage of employees' salaries as prescribed in Scheme Rules
- Additional voluntary contributions to enhance employee benefits
Employee Contributions
- Statutory minimum percentage of their salaries
- Voluntary contributions subject to regulatory limits
Investment Policy
Scheme assets invested prudently in accordance with Investment Policy Statement
Investment Manager ensures diversification to optimize returns while minimizing risk
Quarterly reviews of investment performance with necessary adjustments
Clear Statement of Investment Principles (SIP) to guide asset allocation
Benefits Structure
Retirement Benefits
- • Accumulated contributions and investment returns
- • Phased withdrawals or annuity purchases
- • Subject to scheme rules and regulations
Death Benefits
- • Benefits paid to designated beneficiaries
- • In accordance with Scheme Rules
- • Proper documentation required
Early Withdrawal
- • Total disability or permanent emigration
- • Hardship withdrawals subject to approval
- • Limited to allowable conditions
Compliance & Administration
Regulatory Compliance
- All applicable pension laws and tax regulations
- Anti-money laundering provisions
- Annual audits by independent external auditor
Administration
- Timely collection and recording of contributions
- Processing of benefits and audited financial reports
- Member Services Unit for personalized support
Dispute Resolution
Any disputes arising under this Scheme shall be resolved through mediation, failing which arbitration shall be conducted in accordance with the governing arbitration laws.
Members may appeal decisions through the Pensions Ombudsman or relevant regulatory bodies.
Best Provident Fund Scheme
Savings scheme where both employers and employees contribute to build a retirement fund.
Definitions & Interpretation
Scheme Establishment
Occupational pension plan designed to provide retirement benefits to participating employees of multiple employers under a single trust arrangement.
Defined contribution scheme with the potential for additional voluntary benefits.
Scheme Objectives
To provide sustainable and equitable retirement income security for Members
To ensure prudent investment and risk-adjusted growth of contributions
To comply with all legal and regulatory requirements governing pension schemes
To foster trust, transparency, and professional governance in pension management
Governance Structure
Trustee Responsibilities
- Overseeing the governance, administration, and investment strategy of the Scheme
- Acting in the best interests of Members
- Appointing professional service providers, including Investment Managers, Custodians, and Actuaries
Advisory Committees
Investment Committee
Oversee asset allocation and performance
Governance & Compliance
Ensure regulatory adherence and ethical conduct
Risk Management
Evaluate and mitigate financial and operational risks
Contributions
Employer Contributions
- Fixed percentage of employees' salaries as prescribed in Scheme Rules
- Additional voluntary contributions to enhance employee benefits
Employee Contributions
- Statutory minimum percentage of their salaries
- Voluntary contributions subject to regulatory limits
Investment Policy
Scheme assets invested prudently in accordance with Investment Policy Statement
Investment Manager ensures diversification to optimize returns while minimizing risk
Quarterly reviews of investment performance with necessary adjustments
Clear Statement of Investment Principles (SIP) to guide asset allocation
Benefits Structure
Retirement Benefits
- • Accumulated contributions and investment returns
- • Phased withdrawals or annuity purchases
- • Subject to scheme rules and regulations
Death Benefits
- • Benefits paid to designated beneficiaries
- • In accordance with Scheme Rules
- • Proper documentation required
Early Withdrawal
- • Total disability or permanent emigration
- • Hardship withdrawals subject to approval
- • Limited to allowable conditions
Compliance & Administration
Regulatory Compliance
- All applicable pension laws and tax regulations
- Anti-money laundering provisions
- Annual audits by independent external auditor
Administration
- Timely collection and recording of contributions
- Processing of benefits and audited financial reports
- Member Services Unit for personalized support
Dispute Resolution
Any disputes arising under this Scheme shall be resolved through mediation, failing which arbitration shall be conducted in accordance with the governing arbitration laws.
Members may appeal decisions through the Pensions Ombudsman or relevant regulatory bodies.
Employer Sponsored Pension Schemes
Customized pension schemes designed specifically for your organization's unique needs.
Definitions & Interpretation
Scheme Establishment
Occupational pension plan designed to provide retirement benefits to participating employees of multiple employers under a single trust arrangement.
Defined contribution scheme with the potential for additional voluntary benefits.
Scheme Objectives
To provide sustainable and equitable retirement income security for Members
To ensure prudent investment and risk-adjusted growth of contributions
To comply with all legal and regulatory requirements governing pension schemes
To foster trust, transparency, and professional governance in pension management
Governance Structure
Trustee Responsibilities
- Overseeing the governance, administration, and investment strategy of the Scheme
- Acting in the best interests of Members
- Appointing professional service providers, including Investment Managers, Custodians, and Actuaries
Advisory Committees
Investment Committee
Oversee asset allocation and performance
Governance & Compliance
Ensure regulatory adherence and ethical conduct
Risk Management
Evaluate and mitigate financial and operational risks
Contributions
Employer Contributions
- Fixed percentage of employees' salaries as prescribed in Scheme Rules
- Additional voluntary contributions to enhance employee benefits
Employee Contributions
- Statutory minimum percentage of their salaries
- Voluntary contributions subject to regulatory limits
Investment Policy
Scheme assets invested prudently in accordance with Investment Policy Statement
Investment Manager ensures diversification to optimize returns while minimizing risk
Quarterly reviews of investment performance with necessary adjustments
Clear Statement of Investment Principles (SIP) to guide asset allocation
Benefits Structure
Retirement Benefits
- • Accumulated contributions and investment returns
- • Phased withdrawals or annuity purchases
- • Subject to scheme rules and regulations
Death Benefits
- • Benefits paid to designated beneficiaries
- • In accordance with Scheme Rules
- • Proper documentation required
Early Withdrawal
- • Total disability or permanent emigration
- • Hardship withdrawals subject to approval
- • Limited to allowable conditions
Compliance & Administration
Regulatory Compliance
- All applicable pension laws and tax regulations
- Anti-money laundering provisions
- Annual audits by independent external auditor
Administration
- Timely collection and recording of contributions
- Processing of benefits and audited financial reports
- Member Services Unit for personalized support
Dispute Resolution
Any disputes arising under this Scheme shall be resolved through mediation, failing which arbitration shall be conducted in accordance with the governing arbitration laws.
Members may appeal decisions through the Pensions Ombudsman or relevant regulatory bodies.
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