Apart from the two Master Trust schemes managed by GLICO Pensions, the Company also provides efficient pension administrative services for large pension schemes.

The Company currently provides third party administration services for the Ghana Education Service (GES) Pension Scheme, which is one of the largest pension schemes in the country.

This represents the third layer of the pension schemes provided for under the National Pensions Act (Act 766).

GLICO Pensions has designed the GLICO Master Trust Provident Fund Scheme for both workers in the formal and informal sectors in Ghana. For the formal sector employees, this Scheme is a supplementary pension scheme to the Tier 1 and Tier 2 pensions and its designed to ensure that employees retire to a cushion of cash that cater for all their financial needs.

The GLICO Master Trust Provident Fund Scheme serves as the main pension scheme for the informal sector employees and indeed a large number of informal sector employees, both groups and individuals, have been enrolled onto this Scheme.

Under the GLICO Master Trust Provident Fund Scheme, contributors enjoy tax exemptions on the amount deducted as monthly contributions and can make withdrawal of their lump sum after ten years of continuous contribution.

Like the GLICO Master Trust Occupational Pension Scheme, the GLICO Master Trust Provident Fund Scheme also gives an attractive returns due to the large asset base that gives GLICO Pensions bargaining power to negotiate for good investment returns.

Under the National Pensions Act (Act 766), if you are a formal sector worker, then the Social Security and National Insurance Trust (SSNIT) is mandated to manage your Tier 1 pension. GLICO Pensions, as a licensed private pensions company, is also mandated to manage your Tier 2 pension, which would pay a lump sum to you upon your retirement.

We have therefore designed a GLICO Master Trust Occupational Pension Scheme that specially takes care of your Tier 2 pension. The Scheme, since its establishment, has had several companies and institutions signing on. Because of the sheer size of the assets under management, it is one of the most robust pension schemes in the country and no wonder more customers keep joining year after year.

The GLICO Master Trust Occupational Pension Scheme gives good returns since the large asset base enables us to negotiate for the best of investment returns for our customers while still safeguarding the investment in accordance with regulatory guidelines.