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Provident Fund Scheme (Tier 3)


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.

  1. It is voluntary for employers and their employees
  2. Contributions up to 16.5% of the employee’s basic salary may be made pre-tax towards the Scheme
  3. It provides contributors with additional lump sum retirement benefits based on a defined contribution formula
  4. Contributors may choose from a bouquet of investment portfolios which have been designed to cater for their different risk personalities and retirement horizons.
  5. 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%