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(1) An employer or self-employed person shall pay into the Fund of the Scheme the contributions specified under section 63 of the Act within fourteen days after the end of the month to which the contribution relates.

(2) A self-employed person or a voluntary contributor who opts to join the Scheme or continue to contribute after ceasing to be employed shall pay the contribution specified under section 58 (2) of the Act within fourteen days after the period that the self-employed person or voluntary contributor agreed with the Trust to pay the contribution.

(3) The penalty provided under section 64 of the Act shall apply to a self-employed person or a voluntary contributor who fails to pay a contribution within a specified period.

(4)The Trust shall not accept arrears of contribution which is over twelve months from a self-employed person or a voluntary contributor.

(5)The minimum contribution is thirteen and half per centum of the approved national minimum wage and an employer is responsible for payment of the difference between a contributions remitted to the Trust which is below the monthly equivalent of the approved national minimum wage.

(6) The Trust, shall in consultation with the Authority periodically determine and publish the maximum salary figure as a ceiling beyond which a contribution shall not be based, paid or accepted.

(7) A contributor who

(a) is above the maximum age of joining the basic national social security scheme, and 

(b) makes mandatory contributions under section 63(8) and (9) of the Act shall on retirement utilise seventy five percent of accrued benefits to purchase an annuity for life guaranteed for fifteen years and payable monthly from a Life Insurance Company licenced by the National Insurance Commission.

(8) The Authority shall in consultation with the National Insurance Commission ensure that a Life Insurance Company which provides annuity is capable of meeting its liabilities.