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What is the Contributory Three-Tier Pension Scheme?

The contributory Three-Tier Pension Scheme is the new pension scheme that was introduced into the country following the promulgation of the National Pensions Act, 2008 (Act 766). The Three-tier pension scheme consists of:

  1. A mandatory basic national social security scheme;
  2. A mandatory fully funded and privately managed occupational pension scheme; and
  3. A voluntary fully funded and privately managed provident fund and personal pension scheme


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