Ghana Archives - Page 2 of 15 - Pension Policy International

10SepSeptember 10, 2024

Ghana. NPRA press releases on informal sector pensions: Matters arising

There are two press releases circulating on Informal Sector Pensions dated 26/08/2024 and 30/08/2024 issued by the National Pensions Regulatory Authority (NPRA), bringing to the attention of the general public that informal sector pensions already exist. In the 30/08/2024 press release, the NPRA directly linked informal sector workers to self-employed persons, stating: “…the new Pensions law has offered opportunities for self-employed persons (informal sector workers) to voluntarily contribute towards their pensions. Additionally, the NPRA associated Personal Pension Schemes with the informal...

September 10, 2024

NewsGhana, Informal Sector, Voluntary Savings

20AugAugust 20, 2024

Ghana. Government, CETAG reach agreement: strike resolution imminent

The Colleges of Education Teachers Association of Ghana (CETAG) has reached a tentative agreement with the government following successful negotiations on Monday (19 August). The meeting included representatives from MELRP, the Ministry of Education (MoE), the Fair Wages and Salaries Commission (FWSC), the Ministry of Finance (MoF), the Ghana Tertiary Education Commission (GTEC), the Principals of Colleges of Education (PRINCOF), and CETAG. During the talks, the government agreed to unfreeze CETAG members’ July salaries, provided the association calls off its two-month-long strike, which has disrupted...

August 20, 2024

NewsGhana, Public Pensions

30JulJuly 30, 2024

Ghana’s Constitutional Conundrum: A call for reform

By Joseph Bagah Ghana’s constitutional framework has been a subject of concern, and a lot of brainstorming has gone on for many years. The practice where Members of Parliament (MPs) play dual roles or serve multiple positions as Ministers has raised questions about whether conflict of interest situations do not arise and the lines between Legislative and Executive blurred. This concentration of power has resulted in a lack of accountability and transparency in governance perpetuating a system where those who...

July 30, 2024

News, OP Ed, Op-EdGhana, Pension Reform

18JulJuly 18, 2024

Ghana. Editorial: Further engagement required to resolve outstanding issues on pensions

Following SSNIT’s decision to halt the sale of 60 percent of its shares in four hotels, a move leading to the suspension of a planned nationwide strike on Monday, July 15, 2024, Organised Labour has issued a one-month ultimatum for the Social Security and National Insurance Trust (SSNIT) to address unresolved issues. Dr. Yaw Baah, Secretary General-Trades Union Congress, speaking on behalf of Organised Labour, called-off the strike action after an emergency meeting of labour union leaders on Monday. Since 2018,...

July 18, 2024

NewsGhana, Investment, Pension Management

26JunJune 26, 2024

Ghana. SSNIT drags railways MD to court for nonpayment of contributions

The Social Security and National Insurance Trust (SSNIT) office in Takoradi has dragged the Ghana Railways Corporation (GRC) and its Managing Director, Michael Adjei Anyetei, to court for nonpayment of social security contributions of the entity’s workers to the tune of GH¢4.13 million. The Circuit Court presided over by Araba Nunoo, issued the warrant for the arrest of the managing director after the SSNIT Prosecutor, Ann-Marie Annan, applied for a bench warrant to that effect. The prosecutor told the court that...

June 26, 2024

NewsGhana, savings, supervision

04JunJune 4, 2024

Ghana. Organised Labour demands complete restructuring of SSNIT

Organised Labour is demanding an amicable resolution to the usage of workers’ funds by the Social Security and National Insurance Trust (SSNIT). According to Organised Labour, the recent actions and inaction of SSNIT leave much to be deserved. The Executive Secretary of the Civil and Local Government Staff Association of Ghana (CLOGSAG), Dr. Isaac Bampoe-Addo, said Organized Labour will be in a better position to manage its pensions than SSNIT. “We are not convinced, and we tell them [SSNIT] in plain language...

June 4, 2024

NewsGhana, Labor Market, Pension Management

10MayMay 10, 2024

Ghana. PFAG, IPTC partner to provide pensions for smallholder farmers

The Peasant Farmers Association of Ghana (PFAG) and the Industrial Pensions Trust Company (IPTC) have launched a significant partnership with the goal of offering affordable, flexible, and sustainable retirement planning products through the Nkɔsoɔ Pensions and Welfare Scheme for smallholder farmers. This momentous occasion took place at the PFAG pre-season durbar and inaugural Peasant Farmers Day Celebration held in Navrongo, Ghana, on April 25, 2024. Themed ‘Deepening the Role of Smallholder Farmers in Promoting Food and Nutrition Security in the...

May 10, 2024

NewsCoverage, Ghana, Informal Sector

06MayMay 6, 2024

Only 18% of Ghanaians confident about retirement – Old Mutual Financial Services Monitor

Only 18% of Ghanaians confident about retirement – the Old Mutual Financial Services Monitor The Old Mutual Financial Services Monitor is a study aimed at uncovering the financial behaviour, attitudes, and perceptions of working Ghanaians. Not only has it achieved this objective, but it has also provided valuable insights for Financial Services Providers (FSPs) to better serve their customers. Today’s focus is on retirement savings and the attitude of the working Ghanaian towards it. The monitor reveals a high correlation between...

May 6, 2024

NewsGhana, Retirement Planning

26AprApril 26, 2024

Ghana. SSNIT reserves projected to hit zero in 12 years – ILO

This was revealed in an actuarial valuation study of the Social Security and National Insurance Trusts (SSNIT) viability. According to ILO, total income including contributions, investment income and other income, will no longer be sufficient to pay for annual expenditures including benefit payments to pensioners by 2029. “Starting in 2029, total income (contributions, investment income and other income) is no longer sufficient to pay for annual expenditures. "The reserve starts to decrease. During the year 2036, the reserve drops to zero” the...

April 26, 2024

NewsFunding, Ghana, System sustainability

24AprApril 24, 2024

Ghana. Public sector workers to strike May 2 over pensions

The Forum for Public Sector Associations and Unions has hinted at plans to stage a nationwide strike if government fails to resolve all issues bordering on the implementation of pensions for public sector workers. The Forum, in a notice, revealed its members will embark on a strike from Thursday, 2 May 2024, if by Tuesday, 30 April, issues relating to the implementation of pensions for public sector workers remain unresolved. “Notice is hereby served,” the Forum indicated. The Forum is made up...

April 24, 2024

NewsGhana, Public Pensions

September 2024

Ghana. NPRA press releases on informal sector pensions: Matters arising

August 2024

Ghana. Government, CETAG reach agreement: strike resolution imminent

July 2024

Ghana’s Constitutional Conundrum: A call for reform

Ghana. Editorial: Further engagement required to resolve outstanding issues on pensions

June 2024

Ghana. SSNIT drags railways MD to court for nonpayment of contributions

Ghana. Organised Labour demands complete restructuring of SSNIT

May 2024

Ghana. PFAG, IPTC partner to provide pensions for smallholder farmers

Only 18% of Ghanaians confident about retirement – Old Mutual Financial Services Monitor

April 2024

Ghana. SSNIT reserves projected to hit zero in 12 years – ILO

Ghana. Public sector workers to strike May 2 over pensions