GLICO Pension Trustee Rakes In More Clients

Dr. Sapara-GrantOver 25,000 clients have been registered from 1,300 establishments, under the GLICO Pension Trustee, established in 2012 to provide pension solution to the Ghanaian market in line with the National Pension Act, 2008.

Currently, all registered clients can access and view their statements of contributions on-line via the GLICO Pensions website anytime, a statement issued by the Corporate Affairs Department of GLICO copied to the Business Times said.

Dr. Francis Sapara–Grant, the General Manager of GLICO Pensions said the company placed high premium on its core values of transparency and integrity, which he noted were essential pre-requisites for engendering confidence among the membership of pension schemes who are required by law to save until the retirement age.

He added that GLICO Pensions member’s ability to access statements on-line to see how their pension funds were growing by the day, provided the needed ‘cushion’ for a comfortable retirement.

“At GLICO Pensions, we pride ourselves in excellence as we provide professional services in line with international best practices through a highly skilled and well-motivated team. Therefore, our clients should have confidence in us to ‘cushion them for life,” Dr. Sapara-Grant added.

Explaining the steps to access a member’s benefit statement online, Ms. Leticia Amoah, the Senior Marketing Officer of GLICO Pensions, said that the process was a simple one and that clients should call or visit the GLICO website for easy step by step directions or call at any of the offices or customer service centre for assistance.

Ms. Amoah further entreated all employers to entrust the management of their employees’ pension contributions to a trustee that offers matchless customer service.

She noted that the end result of efficient management of employees’ contributions was the timely payment of benefits to members or their nominated beneficiaries when it is due.

It will be recalled that a new Pensions Act (Act 766) was enacted in 2008, which provided for pension reform in the country and introduced a contributory three-tier pension scheme and established the National Pensions Regulatory Authority to oversee the administration and management of registered pension schemes and trustees of registered schemes.

The establishment of a Social Security and National Insurance Trust to manage the basic national social security scheme to cater for the first tier of the contributory three-tier scheme, and provide for related matters.

The contributory three-tier pension scheme consists of: a mandatory basic national social security scheme; a mandatory fully funded and privately managed occupational pension scheme; and a voluntary fully funded and privately managed provident fund and personal pension scheme.

GLICO PENSIONS is a member of the GLICO Group of Companies with offices located in all the ten (10) regions of Ghana. GLICO provides innovative and quality insurance and financial products and services for the Ghanaian people. By Salifu Rahaman

 

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