TSSA offers membership of the TSSA Retirement Scheme as a compulsory condition of service to all permanent employees. Contributions are based on an employee’s pensionable salary which is between 65% and 100% of the employee’s total package. The employee’s contribution may range between 5% and 7.5% of pensionable salary. The employer’s contribution (funded by the total package) is always 10%. Employees also have to option of additional voluntary contributions (tax-free).
Risk benefits include life cover at 5x annual pensionable salary, disability cover at 75% of monthly pensionable salary and a funeral scheme. Employees have an option to take additional life cover as well as cover on the life of their spouse. The fund is governed by a board of trustees consisting of employer-appointed members and employee-elected members.