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  1. Trustees
  2. Employers
  3. Employees
  4. Pension Fund Managers
  5. Pension Fund Custodians


The role of a trustee is very important in that, the members of the scheme place their trust in you to make sure that they receive their promised benefits. They will be looking to you to make sure that the scheme is administered efficiently and honestly and in the best interest of all members by doing the following.

Act in line with the trust deed and rules 
Secure scheme registration

  • Act in line with the trust deed and rules
  • Secure scheme registration
  • Appoint pension fund managers, custodians and other service providers and ensure their compliance with regulatory requirements or guidelines
  • Maintain investment policy statements and internal control procedures that may be prescribed by the NPRA Board
  • Ensure that the investment of funds of the scheme is diversified to minimise investment risk
  • Act as a provident trustee in financing relationship with its member
  • Keep proper accounting records and a members’ register
  • Prepare and lodge annual audited financial statements, scheme and investment reports and other relevant records that the NPRA Board may require
  • Perform other functions as may be directed by the NPRA Board
  • Act prudently, responsibly and honestly
  • Act in the best interests of your beneficiaries
  • Act impartially


2. Employers

  • Comply with legal demands and obligations towards the social security and occupational pension schemes such as deducting the relevant contributions from the employee’s salary and remitting these along with their contributions to the Mandatory scheme.
  • Provide the administrative and accounting services required to enable a worker join and contribute to a personal pension scheme of the employee’s choice.
  • Make appropriate payroll deductions from the monthly salary of a worker who desires to contribute to a provident fund or a personal pension scheme and remit the contributions to the approved trustee of the scheme within fourteen days after the end of the month of deduction.
  • Should not mingle payroll deductions with the employer’s own funds and where an employer deducts contributions from the salary of a worker the contributions shall be held by the employer in trust until it is remitted to the appropriate approved trustee.
  • Provide scheme trustees or administrators with the information they need to carry out their duties.
  • Provide information and access to support your employees.
  • Keep proper books of accounts and records of contributions made.
  • Work in compliance with the National Pension Regulatory Authority (NPRA).


3. Employees

  • Know information about your payroll deduction arrangements with your employer.
  • Know how much is deducted from your contribution or how much contribution you pay to the scheme.


  • Know contact details of trustee of scheme, such as name of representative of company, phone and fax number and email.


4. Pension Fund Managers

  • Invest pension funds and assets in accordance with the provision of the National Pensions Act, 2008 (766)
  • Invest the funds in different investments to minimize investment risks whilst achieving the best return within specific investment activities set by trustees
  • Maintain books of account on transactions related to pension funds invested
  • Submit its activities to inspections in the discharge of duties of trustees
  • Submit records and reports that the NPRA Board may require
  • Perform other functions that the NPRA Board may prescribe that are incidental to the performance of its functions


5. Pension Fund Custodians

  • Receive contributions remitted by the employer under the National Pensions Act, 2008 (Act766) on behalf of the trustees.
  • Notify the trustee within forty-eight hours of the contributions from an employer.
  • Hold pension fund and assets in trust for members.
  • Settle transactions and undertake activities related to the administration of pension fund investments including the collection of dividends and related activities.
  • Report to the NPRA Board on matters related to the assets being held on behalf of a trustee at periodic intervals that the NPRA Board may determine.
  • Undertake statistical analysis on the investments and returns on investments with respect to pension funds in their custody and provide data and information to the trustee and the NPRA Board.
  • Execute in favour of the trustee, relevant proxy for the purpose of voting in relation to the investment.
  • Perform other functions as may be directed by the NPRA Board.


Who We Are

Over the years, concerns have been raised and agitations made by public servants over inadequacies of the level of pensions to sustain a respectable life for retired public servants. Of particular concern to most workers’ groups has been the low pensions received by workers ... | Readmore