Overview
Provident Fund
Overview
The Metropolitan Provident Fund Scheme is a voluntary fully funded and privately managed provident fund scheme aimed at providing Members and their Beneficiaries with enhanced pension benefits to complement mandatory in accordance with the Pensions Act.
At Metropolitan, we combine efficient administration utilizing our team of experienced and well trained staff and a stable administrative technology solution to ensure your retirement funds grow and are secured. Now you can afford to maintain a decent lifestyle after retirement.
Features
Contribution
Tax exemption up to 16.5%
No restrictions on contribution amount
Withdrawal
Withdrawals before 10 years (formal sector) and 5 years (informal sector) do not qualify for Tax benefits.
Employee is paid a lump sum benefits.
Use of lump sum benefit as collateral to secure mortgage for primary residence.