Group Personal Pension Schemes are Defined Contribution Plans formed by individuals/an association with common identities/relationships. These individuals/associations come together and contribute into a pension scheme they have registered to provide pension and other benefits as may be prescribed in their rules and regulation. These schemes are ideal for informal sector workers, groups and associations. Republic Trust administers the Scheme and contributions received from individuals are invested in line with the National Pensions Regulatory Authority investment guidelines. The scheme has two sub-accounts:

1. Personal Savings Account.
2. Retirement Account.

Other Key Features of the Schemes include:

• Contribution rate – varies and flexible.
• Tailored redemption options.
• Personal Savings Account has holding period of 5 years and partial/full withdrawals are permitted after this period. An early redemption will come with a penalty.
• Retirement Account is maintained until retirement. Partial/Full withdrawal without any penalty is permitted after 10 years.