Gratuity Funds

Gratuity Funds are lump sum amounts that employers give to their employees on leaving the organization as a way of rewarding them for their past service. This cash reward is called "Gratuity". The amount paid to the employee is normally based on the number of years of service he/she worked for the organization. Please note that Gratuity Funds are separate from the normal RSA Fund or Lump Sum payment made at retirement. E.g. West African Postgraduate Medical College Fund.