Fund Administration

…Secure your employees future

Bethsaida Provident Fund scheme

Bethsaida Provident Fund scheme is voluntary contributions received from employers for amounts contributed by employees of the above-mentioned scheme in addition to the mandatory contributions. This helps employees have access to additional funds in their retirement.

…LIVE LIKE YOU NEVER RETIRED

BETHSAIDA Personal Pension Plan

The BETHSAIDA Personal Pension Plan, is a specially designed savings plan for you to make provisions for your retirement. Whether you have or do not have a workplace pension, this can be a good way of securing a retirement income.

…BECAUSE YOUR FUTURE MATTERS TO US

BETHSAIDA Informal Sector Pension Scheme

The BETHSAIDA Informal Sector Pension Scheme is a voluntary, contributory pension scheme designed principally for workers in the informal sector, which provides members with benefits that are based exclusively on their contributions.

Any payment by a member is divided into two equal parts, credited to two separate individual sub-accounts viz. Occupational Scheme Account and Retirement Account. The Occupational Scheme Account serves as a form of savings account from which the contributor can withdraw after 5 months of initial contributions provided the account has a credit balance.

The Retirement Account, however, is a pensions account and a member is permitted to withdraw only when any of the following contingencies occur: Old-Age, Death or Disability.

Features

  • Individuals that are not in group schemes can save for retirement
  • Formal or Informal Organized Groups (Drivers Association, Market Women Association, Second Hand Dealers etc.) can save for retirement
  • Flexible contributions
  • Normal Retirement age is 60 years (early/late retirement possible)
  • Members can withdraw from the scheme before retirement age subject to scheme rules.