Benefits of the 2nd Tier Mandatory Occupational Pension Scheme:

1. Lump-Sum Payment: The scheme pays a lump-sum benefit to members upon retirement.
2. Survivor’s Benefits: A lump sum is paid to the dependents of the member in the event of the member’s death.
3. Invalidity Benefits: A lump-sum benefit is provided if the member becomes permanently disabled and is unable to work.
4. Emigration Benefits: Members who emigrate permanently from Ghana may claim a lump-sum payment.

Qualifying Conditions:

1. Retirement Age: The member must reach the retirement age of between 55 and 60 years.
2. Unemployment at Age 50: The member must be at least 50 years old and prove unemployment.
3. Early Retirement: The member must retire before age 50 in accordance with the terms and conditions of their employment.