Daakye Informal Sector Pension Scheme (Tier 3)

Daakye Pension Trust Limited (DPTL) is a wholly owned Ghanaian Company incorporated under the companies code of Ghana 1963 (Act 179) as a Trust, and was granted a Corporate Trustee License by National Pensions Regulatory Authority (NPRA) as per the requirements of Act766 (2008) to:

Members of Daakye Informal Sector Pension Scheme enjoy the following benefits:

• Life Insurance :
  Every contributor will enjoy a life insurance under the Daakye Informal Sector Pension Scheme. The insurance covers two living parents of every contributor. The insurance will not reduce the contributor’s pension in any way.
• Disability Lump Sum Benefit :
  In case of permanent disability of any kind, the member will be entitled to a lump sum payment aside his or her pension benefits. A medical board must certify that the member is incapable of doing any gainful work.
• Lump Sum :
  Every member of the scheme will be entitled to a lump sum from the scheme. This will be paid to members at the time of exiting or retiring from the scheme
• Monthly Pension :
  Members who remain regular contributors with the scheme for 15 years or more and would have attained age 60 will be paid monthly pension when retiring from the scheme. This is designed to give informal sector operators who will sign on to Daakye Informal Sector Pension Scheme monthly pension at old age.
• Savings Withdrawal :
  In real financial difficult times, members are allowed to withdraw part of the contributions. Nonetheless, members are encouraged to abstain from withdrawing from their pension contributions to help them have a decent pension at old age.
• Survivors’ Lump Sum Benefit :
  Benefit is paid in a lump sum to the beneficiary nominated by a member of the scheme upon his/her death. This happens when the contributor dies before claiming his or her pension.