The Public Service Pensions Fund is a social security scheme established by Public Service Retirement Benefits Act No. 2 of 1999. The main purpose is to provide for collection of contributions and payment of terminal benefits to members. The Fund is operated under two different schemes known as PSPF Main Scheme and PSPF Supplementary Scheme of which membership is voluntary.
Membership to the Fund is open to any person who has been employed in the formal and informal sector. Previously, the Fund was established to manage a defined benefit scheme in which membership was limited to the Central Government employees and employees of executive agencies established under the act of parliament and confirmed in the pensionable office. However, amendments made in the Act No. 2, 1999 in June 2012 and the Social Security Regulatory Authority (SSRA) established under Act No. 8 of 2008 extended membership of the scheme to include employees of formal and informal sector who are not registered under any other scheme. The aim for amendments is to extend social security services to everyone.
The Fund is operating two schemes; the main scheme and the supplementary scheme and each one has its own terms. The former is a defined benefit social security scheme operating on social insurance principles while the latter is a defined contribution scheme.
“Our Vision is to be the provider of choice of social security services in the country.”
“Our Mission is to provide competitive Social Security Services to our members using dedicated staff and appropriate technology.”
The Fund will provide services to its members and the general public while observing the following:
- Courtesy to all