A supplementary scheme means a voluntary scheme chosen by the member to compliment benefits of any mandatory scheme. The main aim of Supplementary Schemes are to cater for more different benefits, where people voluntarily save for retirement, working capital and insure themselves against events such as disability and loss of income and meet other social needs. An employee may register for supplementary schemes as per the Social Security Regulations of 2009;
Requirements
The scheme must be created through the Trust Deed and Rules within the provisions of the Act.
Must appoint at least 3 Trustees as per the provisions of the Act. to run scheme affairs.
Withinninety days from the date of receipt of an application the SSRA will notify the applicant in writing, register the scheme and issue the registration certificate.
If the applicant does not meet the requirements will be notified with the reasons there of
Source: Government Portal Content Team, Last Reviewed on: 25-11-2015