The Secure Pensions Provident Fund Master Trust Scheme (SPPFMTS) is as an open-ended multiple employer tier 3 pension scheme registered under the National Pensions Act, 2008 (Act 766) as amended.
- It is voluntary for employers and their employees
- Contributions up to 16.5% of the employee’s basic salary may be made pre-tax towards the Scheme
- It provides contributors with additional lump sum retirement benefits based on a defined contribution formula
- Contributors may choose from a bouquet of investment portfolios which have been designed to cater for their different risk personalities and retirement horizons.
- A withdrawal made before the tenth anniversary of a member’s first date of joining the Scheme and before retirement is subject to tax at 15%