Master Trust Scheme
This scheme is designed to offer institutions retirement management solutions for
managing their employees’ mandatory Tier 2 contributions.
Prestige occupational Master Trust Scheme
It is a Defined Contribution (DC), Master-Trust Scheme designed to offer institutions retirement management solutions for managing their employees’ mandatory Tier 2 contributions. The Scheme is registered by the NPRA. The Tier two schemes were setup to provide lump sum payments previously provided by SSNIT.
Benefit Payment
The scheme pays full benefits by lump sum to the participants at retirement. The nominated beneficiaries of deceased participants shall also be paid full benefits within 31 working days of filing claims.
The Scheme also offers an add-on benefits for its Scheme members.
Contribution
Employers are required to remit 5% out of the mandatory pension deduction of 18.5% to the approved Tier 2 schemes
Signing up
Employers enrol on behalf of their workers. Interested organizations are required to complete participation forms and agreement to begin contributing to the scheme.
- Trust Deed Development
- Rules and Regulation Development
- Statement of Investment Policy Development
- Actuarial Support for Benefit Design and Costing
- Trustee Training
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