Tier 3 (Best Provident Scheme) is a fully funded and privately managed provident fund scheme. It guarantees the contributor tax reliefs and serves as a financial vehicle for members who seek enhanced pension benefit. The scheme provides tax exemptions to scheme members if withdrawals are done after 10 years.

The setting up of a Provident fund can be initiated either by the employer or employees in the formal sector or by mutual consensus by employees.

Unique features of the Tier 3 Provident scheme:

1. Guaranteed lump sum payment

2. Tax reliefs for contributions up to 35% of gross salary

3. Withdrawal options in line with Scheme rules

4. Secure loans at competitive rates