The National Pensions Regulatory Authority (NPRA) on the 20th and 21st March, 2012 educated and sensitized the informal and formal sector workers in Sunyani and its environs on the new three tier pension scheme.
The education and sensitization programme forms part of the nationwide outreach programme embarked upon by the Authority in 2011.
In an opening address, Mrs. Rita Afua Adzovie, the Director of Corporate Affairs enlightened the participants on some implementation processes undertaken by the Authority. She informed the participants on the required Regulations and Guidelines under National Pensions Act 2008, (Act 766) which have been successfully published to facilitate the smooth implementation of the new scheme. She assured the participants of numerous stakeholders fora organized to accord them a consultative approach to contribute to the development of these documents. She concluded by informing the participants of licensed Corporate Trustees and registered Pension Fund Custodians and Pension Fund Managers by the Authority who had began their marketing campaign.
The presentation was done by Mr. Ernest Amartey Vondee, Director of Regulations and supported by some Board Members of NPRA, Dr. T. A Bediako, Dr. Yaw Baah and Mr. Samuel Ababio. They highlighted on the benefits of the 3-tier scheme, the responsibility of the Authority and its stakeholders to effectively implement the new scheme. The officials from NPRA took turns to answer questions and offer other clarifications on the new scheme for the benefit of participants.
At the Informal Sector Forum held on the 20th of March, the Sunyani Cultural Centre put together a spectacular performance to explain the concept of the scheme and its benefits to participants and also the need to join the 3rd tier in the case of the Informal Sector Group. Participants appreciated the effort made by the NPRA through the performance of the drama troupe; in aiding their full understanding and appreciation of the new scheme. The questions and contributions made by the participants, clearly demonstrated a true understanding by the participants.
The two days programme attracted about 500 workers from the informal and formal sector groups. Various interviews were granted to the NPRA team by the media to further reach others who could not attend the programme.
The Authority intends to continue the outreach programme, which is part of its core mandate in other regions to ensure that the citizenry is educated and well informed on the new three tier pension scheme.
NPRA wishes to thank The World Bank through the Financial Services Division of Ministry of Finance and Economic Planning for making a total commitment as a development partner; towards the Authority's nationwide outreach programme.