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.