NPRA OPENS 2ND OFFICE IN KUMASI

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The National Pensions Authority, NPRA has opened a zonal office in Kumasi. 

It is to serve as a focal point for the Authority in reaching out to the rest of the northern sector of the country and improve the understanding of the general public of the new Pensions Scheme and its implementation.

 Through the Kumasi Zonal office, education and sensitization will be intensified to improve coverage and compliance in the registration of schemes for the benefit of workers in both the formal and informal sectors. 

The Minister of Employment and Labour Relations, Haruna Iddrisu who opened the new office assured that the Government under President John Dramani Mahama would at all times hold true to guaranteeing pension incomes security for retiring workers. 

He noted that after an employee enjoys a fulfilling working life, the best the government can do is to assure him or her of a good pension in retirement. 

He also reassured employees that with the 3-Tier Pension Scheme, their pension incomes security will not be jeopardized on the merit of improper or inappropriate investment. 

The Board Chairman of NPRA, Dr. Nii Kpakpo Sowah said since the commencement of the 3-Tier Pension Scheme in January 2010, the Authority has increased enrolment and participation in the Scheme through its outreach programmes, institutional and stakeholder engagements, radio and tv discussions, exhibitions and also through publications. 

He said as at date, the Authority has registered 256 schemes under the Second Tier Mandatory Occupational Pension Scheme. 

Also, as part of measures to ensure compliance, the Authority has started implementing its sanctions regime under the National Pensions Act.

 Dr. Sowah announced that the NPRA has from November last year began the transfer of funds from the Temporary Pension Fund Account lodged at the Bank of Ghana to registered scheme, who have satisfied laid down preconditions for such transfers.

 He said as at 31st December last year, the Authority has transferred 193 million 116 thousand Ghana Cedis to one thousand 919 establishments and employers in the private sector.

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