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The National Pensions Regulatory Authority (NPRA) in collaboration with Radio Gold, hosted the World Bank/Radio Gold Monthly Breakfast Series on the National Pensions Act, 2008 (Act 766) and its benefits to labour and the economy as a whole.

The programme hosted by Obuobia Darko Opoku of Radio Gold, is a panel policy discussion which creates a platform for stakeholders in policy formulation, to engage in quality discussions for the benefit of its listeners.

The month of May series focused on the National Pensions Act, 2008 (Act 766), the role of NPRA, responsibilities of Social Security and National Insurance Trust (SSNIT), Employers, NPRA Licensed Trustees, Registered Pension Fund Managers/Pension Fund Custodians, Pensioners and labour as a whole.

The programme which lasted for about three hours and broadcasted live from the Conference Room of NPRA on 31st May, 2012, brought together Mr. Sam Pee Yalley, the Ag. CEO, Mrs. Rita Afua Adzovie, Director of Corporate Affairs and Mr. Ernest Amartey Vondee, Director of Regulations who took turns to make presentations on the reform and unique features of the new scheme. They also addressed issues of standards, monitoring and regulation of schemes to afford all contributors a decent retirement income security.

The Corporate Affairs Manager and two other SSNIT officials made a presentation on the features and benefits of 1st Tier under the management of SSNIT. Mr. J.E Allotey-Pappoe, representing the National Pensioners Association, shared some experiences of pensioners in the country and hope that the new scheme would meet their expectations. Mr. Peter Hayibor, a Legal Consultant representing the Ghana Employers Association, highlighted on some administrative challenges associated in making payments on behalf of employees/contributors. He urged the Authority to dialogue and collaborate more frequently with Employers, to address their concerns for the successful implementation of the new scheme as required by law.

Mr. Kwaku Yeboah-Asuamah of Enterprise Trustee Ltd., and Mr. Afriyie Oware of Axis Pensions Trust Ltd. both spoke on the role of Trustees under the new pension scheme for the benefit of listeners. They assured listeners that the regulatory framework and safeguards put in place by the NPRA would ensure effective management of the 2nd and 3rd Tiers, for the benefit of all contributors. A visiting pensioner who joined the programme shared his experiences and expressed optimism in the new scheme to deliver on the promise of ensuring retirement income security.

At the end of the programme, the Corporate Affairs Director of NPRA thanked Radio Gold for the opportunity to use their platform to educate their listeners on Pension matters. She encouraged listeners to start planning towards their retirement upon securing a job and urged them to participate in retirement and pension related educational programmes; so as to reduce or avoid any kind of anxiety associated with retirement or in the case of invalidity.

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Over the years, concerns have been raised and agitations made by public servants over inadequacies of the level of pensions to sustain a respectable life for retired public servants. Of particular concern to most workers’ groups has been the low pensions received by workers ... | Readmore