September 2026

Ghana. Look beyond government securities – GVCA tells pension funds

Ghana’s private capital ecosystem is attracting growing interest as institutional investors explore opportunities beyond traditional investment instruments and seek to channel more capital into the productive sectors of the economy. The development is prompting renewed engagement between pension funds, private equity firms, venture capital managers and other players in the markets and investment industry, with stakeholders highlighting the potential of private capital to support growth-stage businesses, create salaried jobs and deepen economic growth. The discussions formed part of a Matchmaking Session...

August 2026

Ghana. GNA, SSNIT deepen collaboration on pension information

The Ghana News Agency (GNA) and the Social Security and National Insurance Trust (SSNIT) have agreed to deepen collaboration on pension information. The partnership will focus on improving public education on pensions and retirement planning, particularly among young workers, rural communities and the informal sector, while countering misinformation and disinformation. Mr Albert Kofi Owusu, General Manager of GNA, made this known when he led a delegation from the Agency on a courtesy call on SSNIT in Accra. He said the visit was...

The political economy of pension management in Ghana

Decisions about who contributes, who receives benefits, where pension funds are invested and how institutions are governed are influenced by government policy, economic conditions, organised labour, financial markets and competing national interests. The political economy of pension management, therefore, concerns the interaction between political power and economic decision-making within the pension system. In Ghana, this interaction has become increasingly important because pension funds represent both the retirement savings of workers and a substantial pool of long-term national capital. Ghana’s pension system...

July 2026

Ghana. A-G uncovers GH¢7.5 million in illegal pension payments to 4 dead pensioners

A report by the Auditor-General (A-G) has found that four deceased pensioners continued to receive pension benefits long after their deaths, resulting in overpayments totalling GH¢7,494,975.34 between February 2019 and March 2026. The findings, contained in the Report of the Auditor‑General on the Public Accounts of Ghana Ministries, Departments and Other Agencies for the year ended 31 December 2025, identified a serious breach of financial regulations. "We noted that four deceased pensioners were paid a total amount of GH¢7,494,975.34 between February...

June 2026

Should Ghana introduce a universal pension for elderly citizens?

As Ghana continues to debate the future of its pension system, an important question is emerging in public policy discussions: Should every elderly Ghanaian receive a basic state pension, regardless of whether they contributed to a formal pension scheme? The question is both timely and necessary. Across Ghana, thousands of elderly citizens who spent their productive years farming, trading, fishing, artisan work, caregiving, and other forms of informal employment now find themselves facing old age without any reliable source of...

May 2026

Financial Stability Review 2025

By Financial Stability Council The Financial Stability Review evaluates developments in Ghana’s financial system, with emphasis on policies implemented to mitigate emerging risks to financial stability. This report is organised into eight (8) chapters: macro-financial developments, developments in Ghana’s financial system, assessment of the Banking, Insurance, Securities, and Pensions Industries, financial sector resilience, and a special features section that highlights topical issues of relevance to financial stability. In this current edition, two new sections have been introduced – key Financial...

Ghana. Informal sector pension coverage rises to 16.7%

Pension coverage among informal sector workers in Ghana increased from 13.2 per cent in 2024 to 16.7 per cent in 2025, the Financial Stability Review 2025 has revealed. The Review attributed the increase to intensified public education campaigns, improved enrolment strategies, and the introduction of flexible pension products tailored to self-employed workers. The report said the growth formed part of broader reforms aimed at strengthening the sustainability of Ghana’s three-tier pension system and expanding access to retirement savings opportunities. It said the...

Ghana Financial Sector Assets Jump 23.3% in 2025

Ghana’s financial sector assets rose 23.3 per cent to GH¢647.25 billion in 2025, equal to 45.1 per cent of Gross Domestic Product (GDP), regulators said in their maiden stability review. The expansion was driven by steadier macroeconomic conditions, stronger capital buffers, and heavy bank holdings of government instruments, according to the Bank of Ghana (BoG). Profitability and solvency positions strengthened across all four supervised industries, namely banking, insurance, securities, and pensions. The figures were unveiled at the maiden launch of the...

NPRA deploys risk-based supervision to fortify Ghana’s pension industry

The National Pensions Regulatory Authority (NPRA) has taken a major step toward strengthening oversight and protecting contributors’ retirement funds with the full deployment of its Risk-Based Supervisory System (RBSS). According to the Chief Executive Officer of the Authority, Christopher Boadi Mensah, the reform marks a major institutional shift from traditional compliance-based supervision to a more targeted, intelligence-driven regulatory framework. Under the new system, NPRA can better monitor compliance and profile risks among industry players, identify early warning signs, and take preventive...

April 2026

Ghana: NPRA to Launch Digital Platform to Boost Informal Sector Pension Enrolment

THE National Pensions Regulatory Authority (NPRA) has announced plans to roll out a comprehensive pension digital platform aimed at significantly increasing pension coverage among informal sector workers across the country. The initiative forms part of a broader policy direction by the Authority to introduce targeted incentives that will encourage workers in the informal economy to enrol onto personal pension schemes and secure their retirement income. Speaking at a media engagement in Accra, the Deputy Chief Executive Officer of the NPRA, Mr...