Regulation 1(1) A person may in accordance with sections 122 and 123 of the Act apply to the Authority to be appointed as a trustee to manage an occupational pe ...

Regulation 2 (1) A company incorporated in Ghana which desires to be appointed as a trustee by the Authority shall (a) be a registered company with a name inclu ...

Regulation 3 (1) The auditor's report referred to under regulation 2 (1) (d) shall be prepared by an auditor appointed by the applicant. (2) The report shall be ...

Regulation 4 An individual person who desires to be appointed as a trustee shall (a) be ordinarily resident in Ghana; and (b) satisfy the Authority that that pe ...

Regulation 5 (1) The Authority may approve an application under regulation 1 (1) if the other businesses carried on by the applicant are in the opinion of the A ...

Regulation 6 (1) For the purposes of this regulation (a) "member-nominated trustee" includes 'member-nominated directors; (b) "requirements" means the requireme ...

Regulation 7 (1) In this regulation "trustee" includes directors of a corporate trustee board. (2) An individual trustee of an occupational pension scheme, prov ...

Regulation 8 For the purpose of regulations 9 to 12 "applicant" in relation to an occupational pension scheme, provident fund scheme, or personal pension scheme ...

Regulation 9 (1) An application for registration of an occupational pension scheme, provident fund scheme or a personal pension scheme shall be in accordance wi ...

Regulation 10 (1) An application for registration of an occupational pension scheme, a provident fund scheme or a personal pension scheme shall be made to the A ...

Regulation 11 (1) The applicant shall attach to the application a statement setting out the investment policy of the scheme. (2) The statement of investment pol ...

Regulation 12 (1) The Authority shall publish in the Gazette a notice of registration of a group personal pension scheme registered under Section 135 of the Act ...

Regulation 13 (1) Where all the approved trustees of an employer sponsored scheme are individual persons, at least one of those trustees shall be an independent ...

Regulation 14 (1) Where an approved trustee of a registered scheme is a company and the office of an officer of the company becomes vacant, an application shall ...

Regulation 15 An approved trustee of a registered scheme which is a company, shall maintain a statutory reserve fund which shall be credited annually with  ...

Regulation 16 An approved trustee of a registered scheme who is an individual trustee shall (a) maintain a valid performance guarantee, and (b) on receipt of a ...

Regulation 17 (1) An approved trustee shall not refuse an application for  (a) membership of a registered scheme that is made by or on behalf of a relevant ...

Regulation 18 (1) An approved trustee of a registered scheme shall accept contributions paid by participating employers and self-employed persons who are member ...

Regulation 19 (1) An approved trustee of a registered scheme shall not pay accrued benefits from voluntary contributions except by reference to the contribution ...

Regulation 20 An approved trustee shall not charge a member of the scheme any fees or impose financial penalties for the transfer of accrued benefits from a reg ...

Regulation 21 (1) An approved trustee of a scheme shall not charge fees or impose financial penalties for the transfer of the member's accrued benefits to anoth ...

Regulation 22(1) A registered scheme may consist of a single constituent fund, or of two or more constituent funds.(2) A constituent fund shall be approved by t ...

Regulation 23 A statement of investment policy(a) shall be prepared and maintained in respect of each registered scheme. (b) shall include sufficient ...

Regulation 24(1) Each registered scheme shall establish and maintain control objectives while the scheme is registered. (2) The control objectives of a reg ...

Regulation 25(1) The funds of a registered scheme shall be invested only in accordance with investments permitted under these Regulations and Guidelines on inve ...

Regulation 26A group personal pension scheme, shall comply with the particulars of the scheme specified in the application for registration under section 135 of ...

Regulation 27An approved trustee of a registered scheme who fails to comply with regulation 23, 24 or 26 is personally liable to pay to the Authority a penalty ...

Regulation 28An approved trustee of a registered scheme shall in the administration of the scheme(a) exercise a level of care, skill, diligence and prudence tha ...

Regulation 29(1) An approved trustee of a registered scheme shall (a) appoint a pension fund manager to manage the investment of the funds of the scheme; a ...

Regulation 30For the purposes of regulation 29 (4), a pension fund manager is independent of the approved trustee of the scheme and of the custodian of the sche ...

Regulation 31(1) An approved trustee of a registered scheme shall ensure that a valid investment management contract exists between the trustee and the pension ...

Regulation 32A company which is an approved trustee shall ensure that the prescribed capital requirements are complied with at all times.  ...

Regulation 33(1) An approved trustee of a registered scheme shall ensure that (a) a pension fund manager appointed for a scheme acts in the interest of the ...

Regulation 34(1) An approved trustee of a registered scheme shall (a) appoint an eligible person in accordance with eligibility requirements for the appoin ...

Regulation 35An approved trustee of a registered scheme shall not (a) enter into a repurchase agreement with the funds of the scheme; (b) end securiti ...

Regulation 36(1) An approved trustee or pension fund manager shall not (a) invest pension fund assets in instruments that are subject to any type of prohib ...

Regulation 37(1) An approved trustee of a registered scheme shall ensure that a person who becomes a member of a scheme is given a document containing informati ...

Regulation 38(1) An approved trustee of a scheme shall within sixty days after a relevant employee of a participating employer becomes a member of a registered ...

Regulation 39(1) An approved trustee of the scheme shall (a) within three months after each financial period of a registered scheme, provide each member of ...

Regulation 40(1) An approved trustee of a registered scheme shall, as far as reasonably practicable assist scheme members and participating employers to partici ...

Regulation 41(1) An approved trustee of a registered scheme shall by written notice inform scheme members, a participating employer of a change in its business ...

Regulation 42(1) An approved trustee of a registered scheme shall, by written notice, inform the scheme members and participating employers of the procedure, an ...

Regulation 43(1) An approved trustee of an employer sponsored scheme shall ensure that the independent trustee of the scheme is, as far as reasonably practicabl ...

Regulation 44(1) An individual person who is an approved trustee of a registered scheme shall within thirty days of becoming aware of a matter that gives rise o ...

Regulation 45(1) An approved trustee of a registered scheme who becomes aware of the occurrence of an event of a significant nature shall (a) not later tha ...

Regulation 46(1) An approved trustee of a registered scheme shall notify the Authority in writing of an amendment to be made to the governing rules of the schem ...

Regulation 47(1) An approved trustee of a registered scheme shall ensure that the scheme assets are(a) administered and dealt with as trust property;(b) applied ...

Regulation 48An approved trustee of a registered scheme may with the approval of the Authority deduct moneys from each scheme member's account as fees for admin ...

Regulation 49Where a scheme's assets are placed on deposit, the approved trustee shall ensure that the rate of interest received for the deposit is reasonable h ...

Regulation 50A person who, without reasonable excuse, fails to comply with a requirement or duty imposed on that person under regulations 28, 29, 30, 31, 32, 33 ...

Regulation 51(1) A person shall not be appointed as a custodian of scheme assets unless that person(a) is a bank or a wholly owned subsidiary of a bank;(b) has ...

Regulation 53(1) An agreement entered into between the approved trustee of a registered scheme and a custodian of scheme assets may provide for scheme assets to ...

Regulation 54(1) An approved trustee of a registered scheme shall for the purposes of performing its functions under the Act request each service provider appoi ...

Regulation 55(1) A service provider, shall by written notice report immediately to the Authority if the service provider in the course of performing its obligat ...

Regulation 56(1) Where the Authority is notified of a matter under regulation 55 and the Authority is of the opinion that the matter can be rectified, the Autho ...

Regulation 57(1) The approved trustee of a registered scheme shall keep accounting records to explain transactions of the scheme and the financial status of the ...

Regulation 58(1) An approved trustee of a registered scheme shall maintain a separate account for each scheme member. (2) The account shall specify the mem ...

Regulation 59(1) The first financial period of a registered scheme starts from 1st January of the date on which the scheme was registered and ends on 31st Decem ...

Regulation 60(1) An approved trustee of a registered scheme shall prepare a statement of accounting policies specifying the accounting policies to be followed i ...

Regulation 61(1) An approved trustee of a registered scheme shall cause to be prepared a profit and loss account and a balance sheet as at the last day of the p ...

Regulation 62An approved trustee of a registered scheme shall take reasonable steps to ensure that the auditor's report on the financial statements prepared for ...

Regulation 63(1) An approved trustee of a scheme shall ensure that the financial statements for a registered scheme include a statement to the effect that the f ...

Regulation 64(1) Where a particular amount is specified in a financial statement for the financial period of a registered scheme the approved trustee of the sch ...

Regulation 65An approved trustee of a registered scheme shall ensure that financial statements relating to the scheme are signed (a) by at least two direct ...

Regulation 66(1) The approved trustee of a registered scheme shall, for each financial period of the scheme ensure that a scheme report is prepared for the sche ...

Regulation 67(1) An approved trustee of a registered scheme shall ensure that an investment report is prepared for each financial period of the scheme. (2) ...

Regulation 68The approved trustee of a registered scheme shall comply with regulations 66 and 67 before the deadline after the end of each financial period of t ...

Regulation 69(1) An approved trustee of the scheme shall publish an annual report consisting of (a) the financial statements of the scheme for that period; ...

Regulation 70(1) A scheme member may request for a copy of the annual report in respect of the scheme for any specified financial period which is within five ye ...

Regulation 72(1) The approved trustee of a registered scheme shall keep other records in relation to the management of the scheme other than accounting records ...

Regulation 73The approved trustee of a registered scheme shall ensure that (a) accounting or other records required to be kept in respect of a scheme is ke ...

Regulation 74An approved trustee who fails to comply with a requirement or duty imposed on approved trustees under regulation 57 or 58 commits an offence and is ...

Regulation 71(1) The approved trustee of a registered scheme shall keep a register of scheme members.(2) The register shall specify(a) the name of each scheme m ...

Regulation 75(1) An approved trustee of a registered scheme shall ensure that the scheme's financial statements for a financial period are audited before the de ...

Regulation 76(1) An approved trustee of a scheme shall appoint at least one person as auditor of the scheme within three months after the day on which a scheme ...

Regulation 77(1) An approved trustee of a registered scheme shall(a) notify the Authority in writing of its inability to appoint an auditor for the scheme withi ...

Regulation 78(1) Subject to sub regulations (5), (7) and (8), a person is qualified to be an auditor of a registered scheme if that person is a member of the In ...

Regulation 79(1) An approved trustee of a registered scheme may remove an auditor of the scheme from office if the approved trustee (a) informs the Authori ...

Regulation 80The auditor of a registered scheme ceases to hold office on the commencement of the winding up of the scheme.  ...

Regulation 81The approved trustee of a registered scheme shall pay the fees and expenses of an auditor of the scheme from the funds of the scheme. ...

Regulation 82(1) The auditor of a registered scheme shall report to the approved trustee of the scheme the status of (a) the financial statements of the sc ...

Regulation 83(1) The auditor of a registered scheme who (a) becomes aware of any matter that would cause the auditor to qualify the auditor's report on fin ...

Regulation 84(1) The Authority may, by written notice to a trustee, direct the trustee to rectify a matter, in the auditor's report at the trustee's own expense ...

Regulation 85(a) have access at reasonable times to the accounting records and other records that are required to be kept in relation to the scheme by the trust ...

Regulation 86The auditor of a registered scheme shall determine whether information and explanations requested from a trustee, has been obtained for the purpose ...

Regulation 87(1) An approved trustee of a registered scheme or service provider appointed or engaged for a scheme shall (a) allow the auditor of the scheme ...

Regulation 88An auditor of a registered scheme who acts in good faith in respect of a statement made by the auditor in a notice given by the auditor to the Auth ...

Regulation 89(1) An approved trustee of a registered scheme that is a company or includes a company shall within six months after each financial year, lodge wit ...

Regulation 90(1) For the purposes of section 167 (1) of the Act, the date for the submission of an annual report is the deadline after each financial period of ...

Regulation 91(1) For the purposes of regulations 92, 93 and 96 the relevant period of a scheme is (a) the financial period of that scheme if the trustee co ...

Regulation 92 (1) The approved trustee of a registered scheme shall, before the deadline after each relevant period report to the Authority (a) the co ...

Regulation 93(1) The approved trustee of a scheme or schemes shall within thirty days after preparing a report submit the report to (a) the auditor of the ...

Regulation 96(1) The Authority may by written notice direct an approved trustee of a company to rectify a matter within a specified period if the Authority(a) b ...

Regulation 97An approved trustee of a registered scheme shall lodge with the Authority information relating to the participating employer and members of the sch ...

Regulation 98A participating employer of a registered scheme shall for each contribution period, calculate (a) the amount of pensionable salary of each rel ...

Regulation 109(1) An employer of a relevant employee shall ensure that a record of each payment of relevant income made by the employer to the employee is kept. ...

Regulation 99(1) A participating employer shall when paying contributions to the approved trustee of a registered scheme ensure that the contributions are accom ...

Regulation 100(1) Where the Authority is satisfied that (a) an employer has complied with section 3 (1) or (2) of the Act; or (b) an employer who has ...

Regulation 101An approved trustee of the registered scheme shall on receiving a remittance statement from a participating employer(a) check the accuracy of the ...

Regulation 102The contribution surcharge is an amount equal to three per cent per month of the amount in arrears.  ...

Regulation 103(1) An approved trustee of a registered scheme shall by written notice inform the Authority within ten days after the contribution day of the fail ...

Regulation 104An approved trustee of a registered scheme shall take action that may be reasonably required by the Authority in connection with the recovery of a ...

Regulation 105(1) The Authority shall within thirty days after receiving a notice under regulation 103 serve on the defaulter a written notice requiring the def ...

Regulation 106(1) The approved trustee of a scheme shall check that the arithmetical calculations of the arrears and contribution surcharge payable by a default ...

Regulation 107(1) An approved trustee of a scheme shall credit an amount to the relevant scheme member's account in accordance with accounting and other records ...

Regulation 108(1) A participating employer shall(a) prepare a pay-record for each month in respect of each relevant employee of the employer who is a scheme mem ...

Regulation 110A participating employer shall within fourteen days after receiving an inquiry from a relevant employee of the employer regarding contributions th ...

Regulation 111(1) A participating employer in a registered scheme shall give written notice to the approved trustee of the scheme of the date of payment of rele ...

Regulation 112For the purpose of regulation 113 to 124(a) "transferee trustee" means the approved trustee of the registered scheme to which the accrued benefits ...

Regulation 113(1) An employee shall, subject to sub-regulation (2), elect to have accrued benefits transferred to (a) an account in a master trust scheme n ...

Regulation 114(1) An employee may elect to have the accrued benefits of that employee transferred to (a) another account in the scheme; or (b) an acco ...

Regulation 115(1) Where the accrued benefits of a self-employed person are held in a contribution account in a master trust scheme, that person may, at any time ...

Regulation 116 A member of a master trust scheme or a group personal scheme may elect to have the accrued benefits held in a preserved account of the membe ...

Regulation 117A participating employer of a scheme may elect to have the accrued benefits of an employee held in the contribution account in the scheme in respe ...

Regulation 118An election shall be in a form specified or approved by the Authority.  ...

Regulation 119 An approved trustee of a registered scheme shall within thirty days of receipt of a notice that a scheme member has ceased to be employed by ...

Regulation 120(1) A transferee trustee shall within thirty days after being notified of an election give written notice of the election to the transferor truste ...

Regulation 121(1) A transferor trustee shall within thirty days after complying with regulations 121 (2), 124 (2) or 125 (2) give to a scheme member a transfer ...

Regulation 122When the accrued benefits of a member of a registered scheme are transferred to another registered scheme, the transferee trustee shall within thi ...

Regulation 123(1) A transferor trustee shall not transfer the accrued benefits of a member in respect of an election of contributions or contribution surcharges ...

Regulation 124(1) A transferor trustee shall not transfer accrued benefits if at the time of election (a) the Authority has served on the transferor truste ...

Regulation 125(1) A claim for the payment of the accrued benefits of a scheme member or a former scheme member is payment made in accordance with section 101 or ...

Regulation 126(1) A contributor who is not covered under a mandatory pension scheme and retires shall utilise seventy five percent of accrued benefits to purcha ...

Regulation 127(1) A member of a registered scheme who wishes to be paid the member's accrued benefits shall lodge with the approved trustee of the scheme a clai ...

Regulation 128(1) Where a member of a registered scheme dies, a personal representative of the member may lodge with the approved trustee of the scheme a claim ...

Regulation 129For the purposes of section 101 of the Act, a member of a registered scheme who has not reached the retirement age is, subject to this regulation, ...

Regulation 130(1) A member of a registered scheme who is not a citizen of Ghana and who, before reaching the retirement age, wishes to be paid the member's accr ...

Regulation 131(1) A member of a registered scheme who, before attaining the retirement age, wishes to be paid the member's accrued benefits in the scheme due to ...

Regulation 132(1) The trustee shall ensure that accrued benefits are paid to the claimant not later than thirty days after the lodgment of the claim, where(a) a ...

Regulation 133 (1) An approved trustee of a registered scheme who receives a claim for payment of a member's accrued benefits, or a request for other payme ...

Regulation 134Where an approved trustee of a registered scheme pays accrued benefits to a claimant the trustee shall ensure that the claimant is provided with a ...

Regulation 135(1) Where a member of a registered scheme or other person is entitled to be paid a member's accrued benefits but does not lodge a claim with the a ...

Regulation 136(1) Where a member of a registered scheme or any other person has lodged a claim with the approved trustee of the scheme for the payment of the me ...

Regulation 137(1) Where a member of a registered scheme attains the retirement age and does not lodge a claim with the approved trustee of the scheme for paymen ...

Regulation 138(1) An approved trustee of a registered scheme who becomes aware that a scheme member on whom a benefit statement has been served cannot be locate ...

Regulation 139(1) The approved trustee of a registered scheme shall submit to the Authority a quarterly report containing (a) particulars of scheme members ...

Regulation 140(1) The Authority shall establish and maintain a register of scheme members of a registered scheme who have unclaimed benefits in the scheme.  ...

Regulation 141(1) The approved trustee of an employer sponsored scheme shall within six months after classifying accrued benefits as unclaimed benefits, transfe ...

Regulation 142The approved trustee of a master trust scheme or a group personal pension scheme shall (a) continue to retain any unclaimed benefits in the s ...

Regulation 143An approved trustee who, without reasonable excuse, fails to comply with regulation 132, 133, 134 or 140 is liable to pay to the Authority a penal ...

Regulation 144For the purposes of winding up of registered schemes, the scheme assets of a scheme includes the funds of each constituent fund of the registered ...

Regulation 145 An employer sponsored scheme may be wound up under section 118 of the Act if (a) the only participating employer or the only remaining ...

Regulation 146(1) The approved trustee or participating employer of an employer sponsored scheme may make an application to the Authority to give consent to the ...

Regulation 147(1) The Authority may consent to the voluntary winding up of an employer sponsored scheme without appointing a liquidator if, on receiving an appl ...

Regulation 148(1) On appointing a liquidator to conduct the voluntary winding up of an employer sponsored scheme, the Authority shall give notice in writing of ...

Regulation 149 (1) After the commencement of the voluntary winding up of an employer sponsored scheme, member of the scheme ceases to be a member and an em ...

Regulation 151(1) A liquidator appointed in respect of the winding up of a scheme may subject to the beneficial interests of the members with respect to their a ...

Regulation 152(1) The Authority may (a) require the liquidator to report to the Authority on matters relating to the winding up of the scheme; and (b) ...

Regulation 153(1) In a voluntary winding up of an employer sponsored scheme, the scheme assets shall be applied in the following order of priority: (a) the ...

Regulation 154A person may be appointed as a liquidator under section 118 of the Act only if the person (a) has consented in writing to the appointment;&nb ...

Regulation 155(1) Unless otherwise provided, a notice or other document to be given, served or lodged for the purposes of the Act shall be given, served or lodg ...

Regulation 150(1) On the appointment of a liquidator to conduct the winding up of an employer sponsored scheme(a) the scheme assets shall vest in the liquidator ...

Regulation 151(1) A liquidator appointed in respect of the winding up of a scheme may subject to the beneficial interests of the members with respect to their a ...

Regulation 152(1) The Authority may (a) require the liquidator to report to the Authority on matters relating to the winding up of the scheme; and (b) ...

Regulation 153(1) In a voluntary winding up of an employer sponsored scheme, the scheme assets shall be applied in the following order of priority: (a) the ...