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Date and time viewed: 22nd May, 2013, 8:00 am

The National Pensions Regulatory Authority (NPRA) on Monday signed a Memorandum of Understanding (MOU) with the Financial Intelligence Centre (FIC) to counter money laundering activities and criminal offences within the scheme.

The move will help NPRA to identify financial terrorism and proliferation, as well as suspicious transactions that might occur within the National Pensions Fund to ensure the retirement income security of Ghanaians.

Mr. Sam Pee Yalley, Acting Chief Executive Officer of NPRA, said his outfit would work with FIC in monitoring such incidence to ensure that Ghanaians enjoy their retirement benefits in line with the National Pensions Act.

Mr. Yalley said NPRA would collaborate with FIC to regulate and monitor Trustees, custodians and other institutions relating to pension matters. Mr. Thompson S. Essel, Chief Executive Officer of FIC, said there would be strict measures to enhance compliance from both public and private institutions, and that, the MOU was a guarantee to strengthen the Pensions Fund and also to share and exchange intelligence strategies aimed at tracking criminal activities.

Source: GNA

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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