Best Pension Trust. All You Need To Know. May 2022

Have you heard of Best Pension Trust but wondering what they do? Then you are in luck because, in this post, we are going to give you all the information you need to know about Best Pension Trust.

Let’s start by going through the Company’s profile as sighted on their website.

About Best Pension Trust 

Best Pensions Trust Limited (BP TRUST) is a wholly-owned Ghanaian company incorporated under the Companies Code of Ghana 1963(Act 179) as a Trust Company, BP TRUST under the New Pension Scheme was granted a Corporate Trustee License by the National Pensions Regulatory Authority per the provision of ACT 766.

The vision of BP Trust is to become a world-acclaimed Trustee Service Company offering professional solutions that consistently delight their clientele in their chosen market.

Best Point’s goal is to ensure maximum returns on your retirement funds and manage both your bio and financial data to enable them to pay benefits accurately and on time.

Best Pension Trust Schemes

Below are the services Best Pension offers to their clientele in Ghana. 

1. Best Trust Scheme

Tier 2 is a mandatory 5% contribution of basic salary which pays out a lump sum benefit to contributors at retirement or to a nominated beneficiary when the contributor dies before attaining retirement age.

Best Pension Trust. All You Need To Know 1

Purpose: To provide income security at retirement to contributors. The scheme is mandatory and has no withdrawal option until attainment of retirement age.

Unique features of the Tier 2 scheme:

1. Superior investment returns on pension contributions.

2. Assignment of Tier 2 to secure a primary residential facility.

3. Discounts granted on insurance cover with Best Assurance.

2. Best Pension Scheme

Tier 3 (Best Pension Scheme) is a flexible long term investment scheme. The personal pension scheme (formal/informal) guarantees the contributor tax reliefs and functions as a financial vehicle for those who seek enhanced pension benefits.

Persons in the informal sector who are not covered by the mandatory Tier 1 & 2 can opt for Tier 3. Contributors enjoy tax exemptions if withdrawals are done after 10 years for formal sector contributors and (after 5 years for the informal sector) in accordance with the rules governing the scheme.

By choosing Best Pensions Trust you enjoy:

a. Guaranteed lump sum payment

b. Tax reliefs for contributions up to 35% of gross salary

c. Withdrawal options in line with Scheme rules

d. Secure loans at competitive rates

3. Best Provident Scheme

Tier 3 (Best Provident Scheme) is a fully funded and privately managed provident fund scheme. It guarantees the contributor tax reliefs and serves as a financial vehicle for members who seek enhanced pension benefits. The scheme provides tax exemptions to scheme members if withdrawals are done after 10 years.

The setting up of a Provident fund can be initiated either by the employer or employees in the formal sector or by mutual consensus by employees.

Unique features of the Tier 3 Provident scheme:

a. Guaranteed lump sum payment

b. Tax reliefs for contributions up to 35% of gross salary

c. Withdrawal options in line with Scheme rules

d. Secure loans at competitive rates.

4. Employer Sponsored Schemes

Best Pensions Trust provides trustee services for the 2nd & 3rd Tier pensions. It allows establishments full ownership of their scheme while enjoying the advantage of having a corporate trustee. Fees for this scheme are negotiated and varied based on some parameters.

Contact And Address Of Best Pension Trust

Do you have questions? Get in touch with Best Pension Trust using the information below: 

Physical Address:

GhanaPost GPS: GA-157-5267

E-Plaza 2 Osubadu Street, Dzorwulu, Accra Ghana
P.O.BoxGP 8952, Accra Ghana

Telephone: +233 (0) 302 780 720

Email: [email protected]

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