Frequently asked questions
General Questions
Account Management
Contributions
Withdrawals
General Questions
Axis Pension is a corporate trustee licensed to administer pension schemes.
- The three-tier pension system was implemented in 2010, per Act 766, 2008.
- Tier 1 is a mandatory scheme contributed to SSNIT and that is 13.5% of employee’s basic salary.
- Tier 2 is a mandatory scheme managed by a private corporate trustee. 5% of an employee’s basic salary is contributed to this scheme.
- Tier 3 is voluntary scheme designed to offer formal sector workers an avenue for augmenting their pension savings through regular payroll contributions. It is intended for organizations wishing to improve employees’ pension savings through voluntary contributions of either employer or employees or both. The Total allowable contribution rate between both the employee and employer is 16.5% of the employee’s basic salary. Under the Tier 3 scheme, individuals are also allowed to contribute into a private personal pension scheme in order to augment their pension benefits.
4 years of existence
- You can contact us on 0302738555 or 0800001860
- You can send us an email through aptl@axispension.com or info@axispension.com
- You can also initiate a live chat with us on our website, online portal and mobile app.
- Accra Branch(Head Office): No. 4 Abidjan Link, East Legon in Accra.
- Kumasi Branch: 2nd Floor, Susana’s House Osei Tutu, 1 Avenue Adum in Kumasi
- Takoradi Branch: No. 24 Sekondi-Takoradi Road, Light industrial (prime wood) in Takoradi and
- Tamale Branch: Choggu Yapalsi in Tamale
- Cedar Pension Scheme (Tier 2)
- Cedar Provident Fund (Tier 3)
- Axis Pension Plan (Personal Pension)
- Employer sponsored scheme (Standalone)
- Axis Retirement Annuity Plan
- Micro Pension Plan
Axis is the name of the company that is Axis Pension Trust Ltd. whereas Cedar is the name for our Master Trust Schemes.
Our Tier 2 scheme is Cedar Pension Scheme and our Tier 3 is Cedar Provident Fund.
Our Tier 2 scheme is Cedar Pension Scheme and our Tier 3 is Cedar Provident Fund.
You can visit any of our offices or you can download the enrolment forms on our website (www.axispension.com). You can also call 0302738555 or 0800001860 for assistance or arrange for a meeting with any of our marketing officers who will assist you with the process.
Account Management
- Kindly download and complete a Transfer out form at axispension.com/ghana/resources/downloads/forms. Indicate the new trustee details on the form
- Submit a hardcopy of the completed form or scan copy of the form to your former employer for endorsement, after that you can scan and email to aptl@axispension.com for processing
- Kindly download and complete a Transfer in form at www.axispension.com/ghana/resources/downloads/forms. Indicate the new trustee details on the form
- Email a scan copy of completed form to aptl@axispension.com with your Id for processing.
- Kindly download and complete a direct debit form at www.axispension.com/ghana/resources/downloads/personal pension forms. Indicate the new amount and tick amend.
- Submit a hardcopy of the completed form to any of our branches or scan and email to aptl@axispension.com.
- Your account statements will be emailed to you quarterly.
- Contribution alerts are also sent whenever contributions are credited to your account.
- You can also visit our self-service portal 24/7 to check your statements.
- Kindly use this link https://cap.axispension.com/crm/ with either your Axis member, SSNIT number or CAGD staff ID (in the case of Controller deducted schemes) to start the process and follow the instruction
- Alternatively, you can log on to www.axispension.com/ghana
- Click on log in then member log in
- Select log in option
- Enter log in option selected, then click on next
- Enter Pin Code from your email or telephone number to proceed.
- Select benefit statement under “Report”, select scheme, input date period and then click on preview.
You need your Axis member number, SSNIT number or CAGD Staff ID to start the process. We should have your email and telephone number in our system.
The Pin Code last for 30 days.
Please use this link https://cap.axispension.com/crm/ and follow the instructions to generate a new pin code.
- Step 1: Visit https://cap.axispension.com/crm
- Step 2: Click on the Member login icon.
- Step 3: Login with your Member Number and Verification code.
- Step 4: Go to the Beneficiaries section on your Dashboard and select scheme.
- Step 5: Follow the link to update existing beneficiaries or add new beneficiaries
- Step 6: Enter the details of your beneficiaries and percentage allocations. This should be equal to 100%.
- Step 7: After indicating all beneficiaries, agree to the Terms & Conditions and click Submit.
Note: Please delete existing beneficiaries before adding new ones. Kindly revert if you have any challenges.
Kindly send us an email to aptl@axispension.com / info@axispension.com with the correct details to be uploaded, or kindly send the correct details to your HR to be forwarded to us.
Contributions
You can start with a minimum of GH¢ 100 and increase your contribution with time to keep pace with your goal.
- If you are on the CAGD payroll, you can contribute monthly through Controller
- You can also contribute monthly by completing a Direct Debit Authorization form to be debited from your Bank monthly.
- Payment or top ups can also be made through MTN mobile USSD code *737*1860# and *1860# follow the instructions.
- You may visit any branch of our custody bank, Zenith bank to top up your account.
- You may also pay or top up using our online portal at https://cap.axispension.com/crm/ via VISA or MASTERCARD
- Payment or top ups can also be made through MTN mobile USSD code *737*1860# and *1860# follow the instructions.
Are lump sum deposit with monthly contribution allowed.
- Yes, it is allowed.
- You can visit any Zenith Bank branch, Mobile money & Visa Card / Master Cards and our USSD code *1860# to make lump sum deposits.
How long does it take for Personal pension contribution to reflect on member statement?
- It takes 3-5 working days after payment is done or contributions are received.
Withdrawals
- Official Retirement – Reaching mandatory retirement age of 60 or voluntary age of 55 years
- Benefit for Immigrants – Permanently emigrating foreigners
- Medical Incapacitation Benefits – Passed incapacitated by a certified medical officer
- Death Benefits – Death of the member (Benefits paid to beneficiaries)
- Unemployment Benefit – 50 years and above who can prove unemployment status
- Terms of Contract – Retirement is based on terms of contract with employer (e.g. Mining Industry)
Withdrawals can be made from the scheme on the basis of resignation, retirement, transfer out, permanent emigration, death, medical incapacitation subject to your employer’s rules. You can also withdraw whiles working with your employer if your employer allows that in their rules.
The Pensions Law allows contributions to be made into a registered Tier 3 scheme on a pre-tax basis hence withdrawals (other than retirement, death, medical incapacitation, transfer out) done before the 10th anniversary of your account shall be subject to a tax rate of 15%.
- A member can withdraw from the savings allocation after 5 years without any penalty.
- A member can withdraw from the retirement allocation after 10 years or upon retirement
- Kindly use this link https://cap.axispension.com/crm/ to download forms from Document library then click on withdrawal request to upload form and id, you can also upload on the mobile app.
- You can complete the withdrawal form and email to aptl@axispension.com / info@axispension.com
It takes within 5 working days.