FIHANKRA PROVIDENT FUND
The Fihankra Provident Fund was set-up to accommodate the retirement funding needs of smaller employee groups and those groups with unique requirements or circumstances where rendering a “stand-alone” retirement fund would be too costly.
The Fihankra Provident Fund has since evolved and is now able to provide product options best suited to meet the needs of members who require the flexibility that is typically found in stand-alone funds.
Again, participating employers can harness economies of scale through the Fihankra Provident Fund in terms of administration.
In addition, participating employers have full access to our expertise in benefit design.
In selecting the Fihankra Provident Fund, employers are also able to:
- Choose a benefit design relevant to their unique requirements.
- Prestige Client/Member services
- Member participation in the scheme of management
- Higher Investment returns above Treasury Bills
- Opportunity to use benefits as collateral for loan
- Safety of funds and steady growth of investment
- Flexible withdrawal option.
- On-line facility for tracking and monitoring your investment
- Option to attach insurance risk benefits (such as death, medical, accident etc) under the group
- Simple enrolment process with no cost to employer
- Member certificate issued to all participating members
NBC Ghana Tier 2 Gold Master Trust
The NBC Tier 2 Gold is designed as a mandatory, work-based Master Trust Scheme. It offers a simple, flexible and cost-efficient retirement saving platform for employees of both large and small-to-medium size businesses.
The fund is highly regulated by the National Pensions Regulatory Authority (NPRA) and provides benefits based on a defined contribution formula in the form of lump sum. The fund is set up to provide retirement and death benefits to members of participating employers.
When setting up a stand-alone fund, an employer carries a substantial management burden. By contrast, the NBC Tier 2 Gold Master Trust removes this burden from the employer by offering professional trustees who adhere to regulatory requirements.
Features of the Fund
- Death benefits and invalidity benefits.
- Usage of Accrued Fund Credit as Collateral for Mortgage Facility (Primary Residence).
- On-line facility for tracking and monitoring your investment.
- Member certificate issued to all participating members
NBC Gold Plan
The Retirement Problem
If you are not financially stable while you are young, strong and working, you can do something about it. You can get a better job, find better employment opportunities, or go back to school. Unfortunately, this is not possible once you retire.
The Retirement Solution
Before old age, there are several ways of ensuring retirement income security such as a pension plan, which provide payments to address your short-term savings need and long-term retirement goals.
About the NBC Gold Plan
The NBC Gold Plan is designed to cater for the savings and retirement needs of the individual contributor either as a formal worker or an informal worker.
This product is geared towards enhancing retirement benefit of contributors outside the mandatory schemes and provident fund scheme.
This allows both the formal and informal worker to make contributions towards their retirement.
Who can Join the Scheme?
- People in seasonal or contractual employment.
- Self-employed people.
- People working in the Diaspora.
- Members who want to enhance their retirement savings.
Benefits of the NBC Gold Plan
- The Plan has an optional life insurance cover.
- The plan offers the opportunity to access mortgage facilities.
- The fund earns compound interest.
- The plan caters for both the short-term saving needs of members and their long-term retirement goals.
- The plan is registered under the Pensions Act, 766 and administered by a licensed Corporate Trustee.
- Tax free withdrawals after five (5) years.
Let’s Talk
To find out how you can benefit from our proven track record of high expertise, call Owuraku today on (056) 002 9895 or send a mail via AsareO@nbcghanatrust.com.gh
Let’s work together towards the next thirteen years, and the next.
NBC TIER 3 UMBRELLA PROVIDENT FUND
A multi-employer retirement fund for the medium sized-employer who wants to provide professional yet cost-effective retirement fund solutions to employees. It is highly regulated by the National Pensions Regulatory Authority (NPRA) and provides benefits based on a defined contribution formula in the form of lump sum. The fund is set up to provide retirement, death and other benefits to members of participating employers.
Our multi-employer umbrella brings critical mass and offers a cost-efficient, sound retirement fund solution to the employer who does not wish to set up a stand-alone fund. The NBC Tier 3 Umbrella Provident Fund provides for retirement savings and group risk benefits, while effectively outsourcing the complex administration of the fund.
The NBC Tier 3 Umbrella Provident Fund offers employees a tax-efficient manner to save for retirement coupled with the ability to pool the risk of multiple employers.
When setting up a stand-alone fund, an employer carries a substantial management burden. By contrast, the NBC Tier 3 Umbrella Provident Fund removes this burden from the employer by offering professional trustees who adhere to regulatory requirements.
Employers can harness economies of scale through the NBC Tier 3 Umbrella Provident Fund in terms of administration costs. In addition, participating employers have full access to our expertise in benefit design.
Benefits Under the Tier 3 Umbrella Provident Fund
- Flexible withdrawal options before retirement
- Member participation in the scheme of management
- Investment returns above Treasury Bills
- Opportunity to use benefits as collateral for loan
- Safety of funds and steady growth of investment
- On-line facility for tracking and monitoring your investment
- Option to attach insurance risk benefits (such as death, medical, accident etc) under the group
- Simple enrolment process with no cost to employer
- Member certificate issued to all participating members
