Pension Fund Management

Galaxy is a licensed pension fund manager under the National Pensions Act 2008 (Act 766). A pension fund is any plan, fund, or scheme which provides retirement income. Ghana runs a 3 tiers pension scheme in which the second and third tier is managed by private firms.

The second tier is mandatory for all employees but privately managed, and designed primarily to give contributors higher lump sum benefits than presently available under the SSNIT or Cap 30 pension schemes. The third is a voluntary provident fund and personal pension schemes, supported by tax benefit incentives for workers in the informal sector and also provide additional funds for workers in the formal sector who want to make voluntary contributions to enhance their pension benefits.

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