Ghana. Private pension funds hit GH¢9.7bn; expert wants funds used for prudent investments
Private pension funds have maintained their strong growth over the years, reaching a record high of GH¢9.7billion in 2017, from the previous year’s GH¢6.8billion.
Data from the sector regulator, the National Pensions Regulatory Authority (NPRA), show that 9.2 billion of the 9.7 billion was accrued from Assets Under Management (AUM) managed by licenced trustees, while some GH¢0.5billion came from the Temporary Pension Fund Account (TPFA).
Last year’s figure, which is over 4.5 percent of the country’s Gross Domestic Product (GDP), represents a GH¢8.4billion increase in private pension funds between 2013 and 2017.
Read More: Ghana Web
