The Pension Scheme is a contributory insurance program, launched on September 1, 1988, provides pension benefit coverage to private and public sectors employees, including senior government and court employees, local government employees, and paramilitary personnel. Voluntary coverage is provided for self-employed persons and persons who previously had mandatory coverage. The exclusions are: Casual workers, family labor, household workers, military personnel, etc. Employers are mandated by law to deduct 4 percent of workers earnings as workers contributions and employers are also mandated to contribute another 4 percent of their wage bill in behalf of their insured workers. Benefits awarded to insured workers and/or families as a result of retirement, sickness, or death and are based on numbers of contributions made by insured persons and the gross earnings during the years of contributions. The benefits covered are:

1. Retirement Pension Benefit
2. Invalidity Pension Benefit
3. Survivor’s Lump Sum
4. Retirement Grant
5. Invalidity Grant
6. Survivor’s Grant