Qlac Financial Trust Limited


This Master Trust Scheme deals with the mandatory contributions received from employers, which will be equal to 5% of each employee’s salary to provide retirement income and benefits according to uniform rules, regulations and standards as set by the National Pensions Regulatory Authority. This is primarily designed to give contributors higher lump sum benefits than previously available under SSNIT pension scheme.

Employers with large number of employees, say a minimum of 500 are allowed to set up a scheme of their own which is referred to as employer sponsored schemes. Organisations with fewer numbers are required to join a master trust scheme which is made up of other similar organisations or institutions.

The National Pensions regulatory authority does a good job in monitoring trustees and other parties to keep them in line in order to keep your pension funds safe.

Eligibility and Membership

Any person, whether in the formal or informal sector can be a member.

Each member is issued with a membership certificate.

Each member shall make a nomination/ nominations as to the beneficiary of his or her entitlement in the event of his death

Monthly Contribution
5% of contribution deducted from employees who belong to SSNIT Tier 1 where 13.5% is paid.
18.5% of gross salary for employees exempted from tier one. These employees could be those who weren’t able to register at SSNIT on time due to their age.

Conditions for Withdrawal

  1. When one reaches a mandatory retirement age of 60
  2. When one reaches a Voluntary retirement age of 55 years.
  3. A non Ghanaian emigrating permanently
  4. Medical Board declaring a contributor as no longer mentally or physically capable of performing the functions of office.
  5. Payment is made to nominated beneficiaries upon death of member

Scheme Custodian:
ADB Bank is the custodian of the funds of the QFTL Occupational Pension Scheme. With over 90 branches, spread throughout the country, monthly remittance is made convenient for the employer

Scheme Fund Manager:
UMB Investment Holdings. UMB Investment Holdings Limited (UMB IHL) previously Merban Investment Holdings Ltd was incorporated on 5th December, 1975. UMB IHL is an investment management and advisory firm licensed by the Securities and Exchange Commission (SEC) under the Securities Industry Law (PNDC Law 333) and registered with the National Pensions Regulatory Authority (NPRA) as a Pension Fund Manager.

An asset based fee in line with NPRA provisions which is less or equal to 2.5% per annum. 2.5% is shared among the NPRA, Trustee, Fund manager and Custodian


  1. Security and growth of your Funds is assured
  2. Online access to access statement
  3. Quarterly statements via sms and email
  4. Retirement planning support
  5. Opportunity to secure a mortgage with your funds as collateral
  6. Prompt responses to enquires from Dedicated Relationship officer
  7. Audited statement from “A” rated firm.