Lady Wanda Achampong-Kyei Reilly
Ms. Wanda Achampong-Kyei Reilly is an accomplished business development executive with over a decade of rich experience in real estate, banking and marketing industries, with notable international experience in the UK property market.
She is entrepreneurial at heart, with keen interest in managing scalable organizations. She is organized; and works effectively within multicultural and multiracial environments. She has keen focus on business development and strategy deployment.
Wanda has a Bachelor’s degree in Business Management from the University of Hertfordshire in the United Kingdom and a professional Diploma in Marketing from the Chartered Institute of Marketing. She is an associate member of the Chartered Institute of Marketing, UK.
Prior to joining GLICO, Wanda worked as Project Manager for Hughes Network Systems, Milton Keynes; as Compliance Supervisor for Abbey National Bank PLC (now known as Santander Bank) London; as Marketing Executive for McCann Homes, Milton Keynes. and as Pensions Review Analyst for Equitable Life Assurance Society Group, Aylesbury.
She joined Glico Group in 2010 as Business Development Executive, reporting to the Group Executive Director. In 2013, she was appointed as Estate Manager to lead and manage the newly formed Glico Properties and has since September 2020 been appointed as its Managing Director.
She was also appointed Director to the Board of ETranzact Ghana Limited in September 2021 and as its Acting/ Interim Chairman in April 2022. She currently serves on the Boards of Glico Pensions Trustee Company Ltd. and Glico Group Ltd.
Wanda, a lover of arts and films, is an avid traveler
GIZ signed onto GLICO Pensions-3rd tier from January 2013 up until date. We have enjoyed their services that has provided our staff with instant statements online where individual employees can go online to view their statement as and when required
Melody Obodai- HR Officer
“We sincerely appreciate your efficient, gracious customer service, the level of detail and accountability you have demonstrated over the past few years, and the way you conduct business. We have, and will continue to, recommend your service to other companies and contacts.
How Much is a Worker Required to Contribute to the Scheme?
Contributions to the Three-tier Pension Scheme are as follows:
- An employer of an establishment shall deduct from the salary of every worker in the establishment immediately at the end of the month, a worker’s contribution of an amount equal to five and half per centum (5.5%) of the worker’s salary for the period, irrespective of whether or not the salary is actually paid to the worker;
- An employer of an establishment shall pay for each month in respect of each worker, an employer’s contribution of an amount equal to thirteen per centum (13.0%) of the worker’s salary during the month;
- Out of the total contribution of eighteen and a half per centum (18.5%) an employer shall within fourteen days from the end of each month transfer the following remittances to the mandatory schemes of each worker:
- Thirteen and half per centum (13.5%) to the First Tier mandatory basic national social security scheme; and
- Five per centum (5%) to the second tier mandatory Occupational Pension scheme
- Out of the total contributions of thirteen and half per centum transferred to the First Tier mandatory basic national social security scheme, two and half per centum (2.5%) shall be deducted and transferred to the National Health Insurance Fund;
- The minimum contribution is eighteen and half per centum of the approved monthly equivalent of the national daily minimum wage;
- Total contributions by employer and employee to the Third Tier scheme are tax deductible up to sixteen and a half per centum (16.5%) of employee’s gross month salary.
It is an individual or corporate entity that holds property/assets on behalf of another person normally known as the beneficiary.
What Happens to the Accrued Benefits of a Worker who Ceases to be an Employee?
A member of a scheme who ceases to be an employee shall elect to have the member’s accrued benefits transferred to another scheme in accordance with the regulations of the scheme.
What is an Occupational Pension Scheme?
What is the Qualifying Age for a Person to Join the National Basic Social Security Scheme?
A Trust is an arrangement involving normally three parties of which one party entrusts the property/assets to another party to be transferred to the third party (beneficiary) at a point in time or a specified period.
What is a Master Trust Scheme?
It is a multiple-employer scheme that allows different employers and their workers to join and is normally administered by a corporate trustee in line with the scheme rules approved by NPRA.
GLICO Pensions has two Master Trust Schemes with a large number of employers contributing to the schemes. Please refer to our products.
Can an Individual Employee Select His Or Her Trustee to Manage the Second Tier Mandatory Occupational Pension Scheme?
No, it is the responsibility of the employer to select the trustee to manage the Second Tier mandatory Occupational Pension Scheme on behalf of its workers.