Zion House, Shiashie
Progress Provident Fund Scheme
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Progress Provident Fund Scheme
The Progress Provident Fund Scheme is a third-tier provident fund scheme that has been purposely designed for managing the contributions by employees and employers of formal sector establishments under the new pensions Law (2008) act 766. The main objective of the scheme is to provide supplementary pension benefits to enhance the retirement income security of employees of participating employers and benefits for the nominated beneficiaries of deceased employees.
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Tax exemption of up to 16.5% of employees’ basic salaries
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Serves as collateral to secure loans and primary mortgage
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Luxury of members to increase contribution at will
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Serves as supplementary fund to cushioning retirement fund
