July 20, 2017
The National Pensions Regulatory Authority (NPRA) has assured workers of effective measures to safeguard their pension funds, saying the right investment interventions have being rolled out.
According to Mr Hayford Attah Krufi, Chief Executive Officer of the NPRA, the Authority remains mindful of its mandate to protect pension funds to ensure a comfortable retirement for workers.
Mr. Krufi gave the assurance when the Authority opened its third zonal office in Takoradi today to serve the Western and Central Regions.
It is part of efforts to enable the Authority to decentralise its operations for the benefit of workers across the regions.
Mr. Krufi noted that as of May 31, 2017, total assets under management regarding Private Pension Funds was GH¢ 7.4 billion, while GH¢ 2.7 billion recorded under the Temporary Pension Fund Account (TPFA).
In addition, as at the end of May 2017, the authority had transferred GH¢ 547,638,012.40 from the TPFA representing contributions of 250,799 private sector workers under 7,707 employers
The pension industry, he said, currently has a total of 131 Service Providers including Trustees, Pension Fund Managers and Custodians, operating some 243 registered pension schemes.
He appealed to stakeholders to support the authority in its educational and sensitization campaign especially among the informal sector workers who can contribute to the tier three pension scheme.
Mr John Davies, Presiding Member for the Sekondi-Takoradi Metropolitan Assembly, lauded the opening of the zonal office, saying the authority’s proximity to workers would help to enroll more contributors, especially from the informal sector.
By Nii Adotey/adrdaily.com