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. However, amendments made by law 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"
Our values are behavioural norms and principles that guide the way our Fund
operates. Our statement of values provides the foundation on which our strategies are built.
- Accountability: We remain accountable and acknowledge our responsibility for our actions and decisions.
- Customer focus: We value our customer by providing accurate, courteous and timely service to all.
- Teamwork: We achieve the best for our customers through effective teamwork.
- Innovation: We encourage creative and visionary thinking to achieve our goals.
- Integrity: We foster a climate of honest, respect and high standards of ethical conduct to honour our promises.