SMARTSAVE PERSONAL PENSIONS

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Overview

SMARTSAVE PERSONAL PENSIONS

Have you wondered if your Tier 2 and 3 pensions would be enough?

  • Do you desire a happy retirement life
  • Are you employed in the informal sector
  • Are you looking for a flexible yet secured and high rewarding retirement plan

WHAT IS SMARTSAVE PERSONAL PENSIONS

The SMARTSAVE Personal Pensions is a Tier 3 Personal Pensions scheme and a specially designed savings plan for you to make extra smart provisions for your retirement.

Whether you have or do not have a workplace pension, this is the smartest way of ensuring a more decent life during retirement. Retirement does not mean you cannot continue enjoying life.

FEATURES OF THE SMARTSAVE PERSONAL PENSIONS

It is characterized by the following features:

  • Individuals who are not in group schemes can join to save towards retirement

  • Formal or Informal Organized Groups (Driver’s Association, Market Women Association, Second Hand Dealers etc.) can join to save towards retirement

  • Flexible contributions
  • Normal Retirement age is 60 years (early/late retirement possible)
  • Members can withdraw from the Plan before retirement age subject to the Pensions Act and scheme rules
  • Minimum contribution amount is GHC50.00
  • No restrictions on maximum contribution amount
  • Cheque or Cash Payment at any Stanbic Bank Branch
  • MTN Mobile Money (on your mobile phone or at any MTN Service Center)
  • 50% withdrawal allowed after every 3 years. Full withdrawal allowed only on termination of scheme membership
  • Member is paid a lump sum benefits.

WHAT TO CONTRIBUTE

  • Minimum contribution amount is GHC50.00
  • No restrictions on maximum contribution amount

HOW TO CONTRIBUTE

  • Cheque or Cash Payment at any Stanbic Bank Branch
  • MTN Mobile Money (on your mobile phone or at any MTN Service Center) Download Brochure

WITHDRAWALS

  • 50% withdrawal allowed after every 3 years. Full withdrawal allowed only on termination of scheme membership
  • Member is paid a lump sum benefits.

HOW TO JOIN THE SMARTSAVE PERSONAL PENSIONS

To become a member of this exciting scheme:

  • Simply complete and submit a Membership Form to Metropolitan Pensions Trust
  • Submit together with a valid National ID
  • Membership Forms are available at our Head Office, any of our regional offices, or downloadable on our website: Downloads
  • Your account will be activated within 24 hours of submission of completed form.
  • Metropolitan would also provide you with a Pensions Account Number (PAN) to be used in contributions payment and claims processing.

BENEFITS OF THE SMARTSAVE PERSONAL PENSIONS

  • The Pool Advantage
    By pooling money from our large membership and investing, members enjoy greater returns on investments because of the economies of scope effect.

  • 91 Day Treasury Bills Benchmark
    The benchmark for the scheme is the 91 day treasury bill rate but the scheme is designed to outperform its benchmark

  • Mortgage Collateral
    You can use your account as collateral to secure a mortgage loan for your primary residence

  • Stay Connected to your Retirement Fund
    Online access to Benefit Statement, Live Beneficiary Update, Fund Value, Unit Price History, Projection Calculator, etc

  • Professional Management
    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

  • Flexible Retirement Planning
    You decide how much to contribute, the frequency of contribution and duration of your retirement account

  • Safety of your Data
    Back up of scheme records and data at 3 locations – Johannesburg, Cape Town and Ghana, to ensure your data is never lost