Retirement Savings Account (RSA) is an account opened with a Pension Fund Administrator. It is applicable to individual employees who are in active employment.

Employees who are 18 years and above are eligible to open a Retirement Savings Account with a minimum contribution of eighteen percent (18%). The 18% contribution consists of the employer contribution of 10% and employee contributing 8% of total emolument.

The RSA is unique to each employee and is not dependent on an employer, i.e. if an RSA holder changes jobs, he/she maintains the same Retirement Savings Account with the new employer.

The Micro Pension Scheme (MPS) is designed to help traders, artisans, professionals and other self employed people who do not qualify for the Contributory pension scheme (CPS), save conveniently for retirement.

Micro Pension helps low, middle- and high-income earners in the informal sector save easily by providing a regular flow of income in retirement.