Benefits Conferred under the Pension Scheme
Under the new Pensions Scheme, the benefits that will be offered according to Section 26 of the Act are divided into two parts; the long-term and short-term:-
Long-term benefits are:-
Short-term benefits are:-
- Withdrawal in respect of Marriage
- Withdrawal in respect of emigration or unemployment
- Maternity Benefits
- Sickness benefits
- Funeral Grant and;
- Education grant
The fund has already started paying all the Long term benefits as well as withdrawal benefits as provided in the Act. However, the other benefits mentioned above will start to be paid after being gazetted by the Minister.
How to apply for benefits
Where a member is retiring or leaving the employment for any reason, he/she can apply for benefits by completing and delivering to the Director General relevant application Forms together with appropriate supporting documents
Processing time
Upon receipt of the complete filled forms and attachment of all relevant supporting documents, the benefits will be paid within one month. In the near future, through the on going efforts to improve technology all benefits will be paid on retirement date.
