Ghana. NPRA assures workers of payment of Three-Tier pension benefits
The National Pensions Regulatory Authority (NPRA) has given the assurance that the industry was ready for the first batch of Ghanaian workers who would be retiring at age 60 in 2020 to begin enjoying their benefits under the new Three-Tier Pension Scheme.
As of December 2018, the total Pension Fund had increased to Gh¢22.2 billion from the about Gh¢20.7 billion in 2017.
This is made up of Gh¢13.1 billion of Assets Under Management (AUM) for Private Pension Funds and Gh¢9.1 billion of funds under the 1st -Tier scheme.
The Chief Executive Officer (CEO) of the NPRA, Mr Hayford Attah Krufi, who made this known at a media sensitisation programme on pension matters in Accra Friday said under the amended National Pensions Act, 2008 (Act 766), the NPRA has been implementing the contributory Three-Tier Pension Scheme since January 2010.
Next year, the NPRA will be 10 years and at the same time, the first batch of Ghanaian workers would be retiring at the age of 60, and under the reforms, they are expected to start benefiting from the scheme.
Read more @Ghana Web
