The second of Ghana’s three pension tiers under the National Pensions Act 2008 (Act 766).
Of the 18.5% of basic salary that goes into pensions, 5 percentage points go to Tier 2 — a privately managed occupational scheme, with a corporate trustee selected by your employer.
Tier 1, the remaining 13.5 points, goes to SSNIT and funds your monthly pension for life. Tier 2 is the part you can take as a lump sum at retirement.
Because it is privately managed, performance varies between trustees. You are entitled to statements — ask for them, and find out who your employer’s trustee actually is.