The GNAT Provident Fund Scheme is a Group Personal Pension Tier-3 Scheme that is open to all GNAT (Ghana National Association of Teachers) members who want to save in a tax-efficient manner towards a comfortable retirement. This scheme is owned by the members themselves, making it a powerful tool for building retirement wealth.
One of the key advantages of the GNAT Provident Fund is that all contributions are tax-exempt up to 16.5%, allowing you to maximize your savings. Additionally, the fund offers competitive interest rates, helping to increase your income over time.
Under tier 1 of the scheme, you can achieve a maximum replacement ratio of 60%, which means that your retirement income can replace up to 60% of your pre-retirement income. However, this ratio can even exceed 100% under certain conditions, ensuring a financially secure retirement.
Moreover, the GNAT Provident Fund Scheme offers an option for a partial withdrawal after 10 years, providing flexibility for unforeseen financial needs. The proceeds from your fund can also serve as collateral for a mortgage for your primary residence, making it a versatile tool for achieving your housing goals in retirement.
Signing up for the GNAT Provident Fund has never been easier thanks to the convenient short code system. Follow these simple steps to begin your journey towards a comfortable retirement:
Dial *789*33# on your phone.
Enter 1 to register for the Provident Fund.
Enter your Staff ID number.
If you are being assisted by an agent, enter the agent’s reference code. Otherwise, press 0 to skip.
Provide your personal details, including your full name, date of birth, and phone number.
Enter your desired contribution rate, which is a percentage of your basic salary.
Specify one beneficiary name.
Create a 4-digit PIN for added security.
You will receive an alert when your registration is successful.
For those who prefer alternative methods, you can also sign up for the GNAT Provident Fund by filling out hard copy forms at your nearest GNAT or United Pension Trustees (UPT) offices.
Accessing Your Account
Once you’ve signed up, you can easily access your account and monitor your retirement savings. You can log in to the UPT Statements portal at https://upstatements.com or download the UPT Statements App from the Apple Appstore or Android Playstore. Follow these steps to access your account:
For first-time users, click on the create/reset password option.
Complete the required fields and submit to create an account.
Select Staff ID under Reset By and enter your STAFF ID.
A 4-digit code (OTP) will be sent to your phone number or email.
Enter the OTP and your login details to access your account.
Once logged in, you can view a summary of your statement, update your personal information, family information, employment details, beneficiaries, and more. You can also easily change your password to enhance security.
Securing a comfortable retirement is crucial, and the GNAT Provident Fund Scheme offers an excellent opportunity to achieve this goal. Whether you choose to use short codes for quick and easy signup or visit GNAT or UPT offices, the path to financial security in retirement is now within your reach. Don’t delay; start building your retirement wealth today!
