March 2022
16Mar

Ghana. Peoples Pension Trust partners SCBF to introduces new Pension Scheme to support women

Peoples Pension Trust (PPT) has partnered the Swiss Capacity Building Facility (SCBF) to introduce new a pension scheme. The new programme; Scaling Gender-Focused Financial Resilience (SGFR) was launched to commemorate this year’s International Women’s Day. Read also Does Informal Sector Size Impede Economy Growth in Developing Countries? SGFR will support informal, marginalized, and excluded female workers and entrepreneurs to secure their future through micro-pensions. Globally 1.8 billion people are working in the informal sector, and in Ghana, this represents approximately 80% of the...

March 16, 2022
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February 2022
14Feb

Ghana. GH¢10bn private pensions funds available for investment in GSE securities – Deputy MD

Abena Amoah, Deputy Managing Director (MD) of Ghana Stock Exchange (GSE), has said GH¢10 billion private pensions fund is available for investments in GSE listed equity and debt securities. She, therefore, called on specified entities, including State-Owned Enterprises (SOEs), to take advantage of such financing and investment opportunities to enhance their operations and make them economically viable. Ms Amoah further urged specified entities to assess and raise Patient Long-term Capital by becoming issuers of equity or debt securities as a support...

February 14, 2022
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10Feb

Should Ghana raise compulsory retirement age to 65?

Authorities in Ghana are calling for a national dialogue for a review of the country’s pension regulation to increase compulsory retirement age from 60 to 65. Would this move worsen the employment situation or help the state meet its retirement obligations? Since 1992, the compulsory retirement age in Ghana has been pegged at 60. At the time, the average life expectancy was 57.4 years. 30 years down the line, life expectancy has increased to 64.4 years and the compulsory retirement...

February 10, 2022
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09Feb

Ghana. Campaign to register private, informal sector workers to roll out in April – SSNIT

Pension schemes are for all workers-SSNIT The Social Security and National Insurance Trust (SSNIT) has revealed that it will commence a sensitization campaign in April to encourage informal and private sector workers to patronize the pension scheme. Read also Tunji Andrews is Building Awabah, a Pension Platform for Nigeria´s Informal Sector Acting Public Affairs Manager of SSNIT, Charles Akwei Garshong, speaking on JoyNews’ The Law, on Sunday said the campaign will specifically target celebrities and all those in the informal sector, to enlighten...

February 9, 2022
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03Feb

Impact Investing Ghana receives RISA funding to support Research and Industry

Impact Investing Ghana (IIGh) has received GBP 109,536 from the Research and Innovation Systems for Africa (RISA) fund to foster research-industry connections in Ghana. The project aims to ‘strengthen synergies between research and industry to unlock pathways to financing innovation that will improve integration and coordination, as well as support demand for the financing by supporting Enterprise Support Organisations (ESOs). Strengthening the connections between research and industry is essential for innovation, commercialisation, and dissemination of research results. While Ghana has research...

February 3, 2022
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January 2022
28Jan

Financial Attitude and Pension Savings Among Informal Economy Workers in Ghana: Application of the Theory of Planned Behaviour

By Dominic Buer Boyetey, Francis Enu-Kwesi The Theory of Planned Behaviour (TPB) was applied to examine the financial attitude of informal economy workers in pension saving. This was against the background that informal economy workers were left out of formal pension schemes while micro pension schemes (MPS) remain as options that can guarantee economic security after retirement for people with the right financial attitudes. We used interview schedules and interview guides to collect quantitative and qualitative responses concurrently on key...

January 28, 2022
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27Jan

Ghana. Some retirees under Second Tier receiving less than what is due them – Haruna Iddrisu

Minority Leader in Parliament, Haruna Iddrisu, has revealed that some retirees who are under the Second Tier pensions scheme are receiving less than what is due them at the moment. He described this as a disturbing situation that must be addressed immediately. The Second Tier is a defined contributory Occupational Pension Scheme mandatory for workers with 5% contribution made on behalf of members. The contribution is managed privately by approved Trustees. Speaking on the New Day on TV3 with Johnnie...

January 27, 2022
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20Jan

Ghana. NPRA to prosecute firms that refuse to pay 2-tier contribution for employees

The Manager of the National Pensions Regulatory Authority (NPRA) for the Bono, Bono East and Ahafo Region, William Ohene-Adjei, has indicated that his outfit is ready to prosecute institutions that refuse to pay the tier two contribution of their employees. Mr. Ohene-Adjei gave the indication during a sensitisation programme in Sunyani for the leadership of Anglican Dioceses of Sunyani on the need for people in the informal sector to embrace the 3-tier pension scheme. He urged the leadership of the church...

January 20, 2022
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18Jan

Ghana. Lack of Pension plan for informal sector workers puts financial burden on youth and retirees

Workers in the informal sector face a lot of problems as they get older and retire. Many people have hung on to misconceptions and falsehoods about pensions throughout the years. But the failure to set up a pension plan frequently places a financial burden on the children of retirees. Many in the informal sector cringe at the mention of pension or end of service benefits. Seventy-four-year-old Obaapanin Yaa Ampomaah sells yam at Ayigya Market in Kumasi. She has been selling this food stuff...

January 18, 2022
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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
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