Registration:
- MOP is strictly available to MTN Mobile Money users. Registration and payments are done through the mobile money platform.
- Users who sign up for the product are expected to choose a frequency for automated deduction at a minimum rate of, but not limited to: GH¢1.00 daily, GH¢5.00 Weekly, and GH¢20.00 Monthly.
- Users also have the option to perform voluntary deposits into their accounts up to GH¢10,000.00
- All contributions are divided 50:50 into a Savings sub-account and a Pension sub-account.
- Interests may be reported on a daily, weekly, or monthly basis.
Withdrawal:
- Benefits from the Savings sub-account can be withdrawn in a lump sum after one (1) year from the date of first contribution.
- Benefits from the Pension sub-account can be withdrawn in a lump sum after five (5) years from the date of first contribution.
- A member who has attained the retirement age is entitled to the entire accrued benefits in the scheme in a lump sum.
- A withdrawal before maturity or by a member who has not attained the retirement age may be allowed if:
- declared medically incapable of work
- deceased
- or emigrating from the country with a period of stay not less than 5 years (subject to scrutiny).
- Withdrawals are paid within 3-7 working days after initiation. Withdrawals can be self-initiated or assisted by a support staff.
- Opting to cancel your mandate before maturity does not guarantee a withdrawal.