Pension Administration Services

Pension Schemes are structured in different designs depending on the objective of the Sponsor i.e Employing entity and the economic sustainability of the Scheme. These are categorized as follows: -

1. Provident Fund- This is a scheme that provides for payment of lump sums and other similar benefits to employees when they leave employment or to the dependants of employees on the death of those employees.

2. Pension Scheme-This is a scheme that provides for periodical payments to employees when they retire. This in a layman’s language is what is commonly referred to us pension. However, when an employee’s leaves employment or dies while in employment then the accumulated value is paid to their dependants/beneficiaries.

The above arrangements are funded by a defined contribution method.

Here an employee makes a pre-determined percentage of his/her salary into a retirement plan and the Employers undertakes to also contribute into the same fund but into the employees account. The employer’s portion of the contribution may either be equal or slightly more than that of the employee, Usually the employer contributes slightly more than the employee. Depending on the choice of the employer the retirement plan may either be a pension scheme, or a provident fund as described above.

We offer the following services to public: -

• Scheme Set up.
• Administration services.
• Scheme secretarial services.
• Training for Trustees/Employees/Employers.
• Arranging for annuities for retirees.
• Arranging for insurance covers relating to occupational schemes.
• Managing pension scheme compliance in relation to the regulations and statutory requirements.