November 2021
25Nov

Ghana. Parliament asked to address imbalance in SSNIT finances

The Africa Centre for Retirement Research (ACRR), a research institute with focus retirement and pension, has called on Parliament, policymakers and stakeholders to take steps to address the “imbalance” in the finances of the Social Security and National Insurance Trust (SSNIT). It said that must be done through parametric and legislative reforms to safeguard SSNIT, claiming the Trust might not be able to pay full scheduled benefits on a timely basis by 2037 if nothing was done. ACRR said the examination...

November 25, 2021
News, Slider, ,
Read more...
11Nov

Ghana. Employers must pay pension contributions of casual workers – TDCL

Tema District Council of Labour (TDCL) has called on the National Pensions Regulatory Authority (NPRA) to ensure that employers enrol their casual workers on pension schemes. Mr Emmanuel Addo-Kumi, Vice Chairman Tema District Council of Labour, told the Ghana News Agency that even though laws were covering the payment of pension for workers, some companies did not do so, especially for their casual workers. Mr Addo-Kumi said, “the casual workers are complaining, some companies don’t pay which is against the law,...

November 11, 2021
News, Slider, ,
Read more...
05Nov

We’re not convinced about the genuineness of the scheme’s implementation — Cocoa farmers to stage demo against cocoa pension scheme

Members of the Ghana National Cocoa Farmers Association have threatened to embark on a massive demonstration against COCOBOD should government go ahead with its plans to implement the cocoa farmers pension scheme under the newly inaugurated board of trustees. According to the Association, they are not convinced of the genuineness and fair implementation of the scheme even though COCOBOD has inaugurated the Board of Trustees of the Cocoa Farmers Pension Scheme. They said their association, together with other cocoa farmer-based associations...

November 5, 2021
News, Slider, ,
Read more...
02Nov

Ghana. NPRA raises alarm bells – Only 6% informal sector workers on pension scheme

Only about 600,000 out of an estimated 10.2 million workers in the informal sector are currently enrolled on at least a pension scheme, the Chief Executive Officer (CEO) of the National Pensions Regulatory Authority (NPRA), Mr Hayford Attah Krufi, has disclosed. He said the figure represented just six per cent of all informal sector workers who form 85 per cent of the country’s entire active labour population. “As a regulatory authority, we are worried that only six per cent of workers...

November 2, 2021
News, Slider, ,
Read more...
01Nov

Ghana. Government explores use of pensions funds for mortgage

The government is exploring the possibility of prospective home buyers using their Tier Two and Tier Three pension funds as initial deposit to support their mortgage plans. The Minister of Works and Housing, Mr. Francis Asenso-Boakye, who made this known, observed that the quest to provide access to housing for Ghanaians, especially low-to-middle income earners, required sustainable policies and programmes aimed at ensuring that the issue of affordable housing no longer became a myth but a possibility. At the maiden Business24...

November 1, 2021
News, Slider, ,
Read more...

October 2021
25Oct

Ghana. Tier-3 Pension Scheme: Labour Minister seeks support to woo informal sector

The Minister of Employment and Labour Relations, Mr Ignatius Baffour Awuah, has called on traditional rulers to join hands with the new Tier-3 Pension Scheme by encouraging people in the informal sector to contribute to the scheme. That, he said, would enable people in the informal sector to enjoy voluntary personal pension payments to cater for their needs at old age. He said chiefs, as opinion leaders, had the clout to influence informal sector workers to take vital decisions such as...

October 25, 2021
News, Slider, , ,
Read more...
05Oct

NPRA targets to rope in 11 million workers into pension schemes

Mr. Alhassan Yakubu Fuseini, the Tamale Zonal Manager of the National Pensions Regulatory Authority (NPRA), says the Authority plans to rope in 11 million workers in the formal sector onto pension schemes. He said as the NPRA works to achieve its target, it would also ensure that coverage for the informal sector was increased from the current three percent to 40 percent by 2026. “In order to meet this goal, it will be critical for the pension sector actors including workers...

October 5, 2021
News, Slider, ,
Read more...

September 2021
27Sep

Ghana. Cocoa farmers pension scheme takes off October 2021

The Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has announced that the much-anticipated cocoa farmers pension scheme will start in October 2021 for cocoa farmers in Ghana. He said that the scheme, once fully operational, would help farmers enjoy a decent retirement benefit after years of active farming, adding, “This adds to the several fantastic strides this government hopes to leave behind.” Mr Boahen Aidoo made this announcement at the signing ceremony of a $1.5 billion...

September 27, 2021
News, Slider, , ,
Read more...

July 2021
28Jul

Ghana. Minister for Employment initiates mass pension enrolment programme

The Minister for Employment and Labour Relations, Ignatius Barfour Awuah has initiated a mass pension enrolment programme by paying for a year’s pension contribution for 10 individuals in the Upper Manya Krobo District in the Eastern Region. At an outreach program at Asesewa in the Eastern Region, to sensitise people on pensions in the area organised for informal sector workers in Asesewa by the National Pensions Regulatory Authority (NPRA), Mr. Bafour Awuah said the gesture was to encourage the people...

July 28, 2021
News, Slider, , ,
Read more...
26Jul

Ghana. GSE boss asks pension funds to boost equity holdings

The Ghana Stock Exchange (GSE), which is experiencing a bull market this year, provides enormous opportunities for pension funds to invest and realise good returns, Ekow Afedzie, Managing Director of the exchange, has said. Read also Ghana. Minister for Employment initiates mass pension enrolment programme Addressing industry players during a workshop under the theme “Maximising Investment Returns Using the Ghana Stock Exchange”, Mr. Afedzi said “though pension fund investments in fixed-income securities continue to increase, the same cannot be said of...

July 26, 2021
News, Slider, , ,
Read more...