Q: What are the differences between the PNDC Law 247 and the Pensions Act 766?
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A: Below are some differences between the PNDC Law 247 and the new Pensions Act 766 introduced in 2008.
|
|
PNDC Law 247 |
Act 766 |
|
Qualifying age |
Persons born before 1960 |
Persons born after 1960 |
|
Minimum contribution period |
At least 240 months (20 years) |
At least 180 months (15 years) |
|
Percentage contribution to Tier 1 |
17.5% |
13.5% |
|
Minimum and maximum pension right |
Minimum 50% Maximum 80% |
Minimum 37.5% Maximum 60% |
