- 5 Marks
PT – July 2023 – L2 – Q2d – Income Tax Liabilities
Explanation of the basis for calculating pension benefits under the National Pensions Act, 2008 (Act 766).
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- 5 Marks
PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities
Compute pension benefit and monthly pension pay based on provided salary and pension contributions.
Question
Mr. John Romeski worked for Aligidon Company Ltd for 25 years and retired at the age of 60. In the last 3 years of his working life, he earned annual salary as follows:
| Year | Annual Salary (GH¢) |
|---|---|
| 58th | 93,000 |
| 59th | 96,000 |
| 60th | 99,000 |
He has 300 months’ contribution to his credit.
Required:
Assuming he retired under the National Pension Act, 2008 (Act 766), compute his pension benefit and his monthly pension pay. (5 marks)
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- Tags: Ghana tax laws, National Pension Act, Pension benefits, Pension Computation, Retirement
- Level: Level 2
- Topic: Income Tax Liabilities
- Series: DEC 2023
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- 5 Marks
PT – July 2023 – L2 – Q2d – Income Tax Liabilities
Explanation of the basis for calculating pension benefits under the National Pensions Act, 2008 (Act 766).
Find Related Questions by Tags, levels, etc.
Report an error
- 5 Marks
PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities
Compute pension benefit and monthly pension pay based on provided salary and pension contributions.
Question
Mr. John Romeski worked for Aligidon Company Ltd for 25 years and retired at the age of 60. In the last 3 years of his working life, he earned annual salary as follows:
| Year | Annual Salary (GH¢) |
|---|---|
| 58th | 93,000 |
| 59th | 96,000 |
| 60th | 99,000 |
He has 300 months’ contribution to his credit.
Required:
Assuming he retired under the National Pension Act, 2008 (Act 766), compute his pension benefit and his monthly pension pay. (5 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Ghana tax laws, National Pension Act, Pension benefits, Pension Computation, Retirement
- Level: Level 2
- Topic: Income Tax Liabilities
- Series: DEC 2023
Report an error