Guidelines For The Payment Of Monthly Contributions To Registered Pension Schemes (NPRA/GD/PAY/01/13)

5.1. At the end of each month the employer shall:5.1.1.Prepare a Monthly Contribution Report for the month on which the payment falls due.5.1.2.Submit the Monthly Contributions Report with a Monthly Remittance Statement on orbefore the last working day of the month to the Scheme Trustee for computation andverification.5.1.3.Receive a Demand letter from the Trustee on the computed and certified amount duefor payment. a Custodian Notification Form (CNF) from the Trustee.5.1.5.Clearly and accurately complete the CNF with the amount payable and provide anyother information required on the CNF.5.1.6.Pay the Contribution due on or before the 14'� day of the next month to the SchemeCustodian.5.1.7.All payments to the Scheme Custodian shall be accompanied with valid and accurateCNFs issued particularly for such payments only.5.1.8.Obtain an official receipt for the payment from the Scheme Custodian.5.1.9.The Scheme Custodian is to forward a duplicate of the receipt to the Scheme Trusteesand retain a copy for inspection by NPRA officials.5.1.10. The Scheme Custodian is to prepare monthly Reports to the Scheme Trustee onpayment of contributions.5.1.11. On the commencement date of these Guidelines, employers shall cease the paymentof the 5% mandatory contribution to the Social Security and National InsuranceTrust (SSNIT).

Procedures to Follow

Not Avaiable

Responsible Institution

National Pensions Regulatory Authority

SU Towers Accra

Relevant Forms to Download

Not Available

Fees & Charges

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