April 2022
25Apr

Ghana. Steady rise recorded in life expectancy of SSNIT contributors

Regardless of the widely held notion on decreasing life expectancy among Ghanaians, the Social Security and National Insurance Trust (SSNIT) says its statistics indicated a reverse of the widely held misconception. It said longevity on the pension’s payroll indicates a steady rise in life expectancy of contributors aged 72 from eight per cent in 2002 to 18 per cent in 2010 and 25 per cent in 2020. Likewise, the percentage of contributors aged 80, rose from one per cent in 2002...

April 25, 2022
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20Apr

Ghana. Access to pension benefits now easier – NPRA

The Chief Executive Officer of the National Pensions Regulatory Authority, (NPRA), Hayford Attah-Krufi, has stated that pensioners do not need lawyers to access their pension benefits after retirement. Mr Attah-Krufi said the days when pensioners had to go through severe struggle to access their benefits were over as pragmatic measures had been put in place for pensioners to access their benefits at ease. He said the authority had directed the Social Security and National Insurance Trust (SSNIT) to fast-track the claim...

April 20, 2022
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04Apr

Ghana. NPRA embarks on pension education for informal sector workers

The National Pensions Regulatory Authority (NPRA) as part of its quest to improve informal pension coverage in Ghana has embarked on an outreach programme in Oti Region to create awareness of pensions. The Head of Corporate Affairs, Nana SifaTwum, told the Ghanaian Times in Accra on Wednesday, that the move is to educate and sensitise both formal and informal sector workers on pension matters. He said the outreach programme which would begin on Monday, April 4 and ends on Friday, April...

April 4, 2022
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March 2022

Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT
22Mar

Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT

The management of the Social Security and National Insurance Trust (SSNIT) has met with stakeholders to find ways to expand and deepen the coverage of the basic national social security scheme for the self-employed. Read also President Sisi approves 13% increase in pensions: Egypt’s PM This is because 10 million informal workers in the country are not covered by any social security. During a speech at the event, the Minister of Employment and Labor, Ignatius Baffour Awuah, praised the SSNIT leadership for...

March 22, 2022
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16Mar

Ghana. Peoples Pension Trust partners SCBF to introduces new Pension Scheme to support women

Peoples Pension Trust (PPT) has partnered the Swiss Capacity Building Facility (SCBF) to introduce new a pension scheme. The new programme; Scaling Gender-Focused Financial Resilience (SGFR) was launched to commemorate this year’s International Women’s Day. Read also Does Informal Sector Size Impede Economy Growth in Developing Countries? SGFR will support informal, marginalized, and excluded female workers and entrepreneurs to secure their future through micro-pensions. Globally 1.8 billion people are working in the informal sector, and in Ghana, this represents approximately 80% of the...

March 16, 2022
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February 2022
14Feb

Ghana. GH¢10bn private pensions funds available for investment in GSE securities – Deputy MD

Abena Amoah, Deputy Managing Director (MD) of Ghana Stock Exchange (GSE), has said GH¢10 billion private pensions fund is available for investments in GSE listed equity and debt securities. She, therefore, called on specified entities, including State-Owned Enterprises (SOEs), to take advantage of such financing and investment opportunities to enhance their operations and make them economically viable. Ms Amoah further urged specified entities to assess and raise Patient Long-term Capital by becoming issuers of equity or debt securities as a support...

February 14, 2022
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10Feb

Should Ghana raise compulsory retirement age to 65?

Authorities in Ghana are calling for a national dialogue for a review of the country’s pension regulation to increase compulsory retirement age from 60 to 65. Would this move worsen the employment situation or help the state meet its retirement obligations? Since 1992, the compulsory retirement age in Ghana has been pegged at 60. At the time, the average life expectancy was 57.4 years. 30 years down the line, life expectancy has increased to 64.4 years and the compulsory retirement...

February 10, 2022
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09Feb

Ghana. Campaign to register private, informal sector workers to roll out in April – SSNIT

Pension schemes are for all workers-SSNIT The Social Security and National Insurance Trust (SSNIT) has revealed that it will commence a sensitization campaign in April to encourage informal and private sector workers to patronize the pension scheme. Read also Tunji Andrews is Building Awabah, a Pension Platform for Nigeria´s Informal Sector Acting Public Affairs Manager of SSNIT, Charles Akwei Garshong, speaking on JoyNews’ The Law, on Sunday said the campaign will specifically target celebrities and all those in the informal sector, to enlighten...

February 9, 2022
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03Feb

Impact Investing Ghana receives RISA funding to support Research and Industry

Impact Investing Ghana (IIGh) has received GBP 109,536 from the Research and Innovation Systems for Africa (RISA) fund to foster research-industry connections in Ghana. The project aims to ‘strengthen synergies between research and industry to unlock pathways to financing innovation that will improve integration and coordination, as well as support demand for the financing by supporting Enterprise Support Organisations (ESOs). Strengthening the connections between research and industry is essential for innovation, commercialisation, and dissemination of research results. While Ghana has research...

February 3, 2022
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January 2022
28Jan

Financial Attitude and Pension Savings Among Informal Economy Workers in Ghana: Application of the Theory of Planned Behaviour

By Dominic Buer Boyetey, Francis Enu-Kwesi The Theory of Planned Behaviour (TPB) was applied to examine the financial attitude of informal economy workers in pension saving. This was against the background that informal economy workers were left out of formal pension schemes while micro pension schemes (MPS) remain as options that can guarantee economic security after retirement for people with the right financial attitudes. We used interview schedules and interview guides to collect quantitative and qualitative responses concurrently on key...

January 28, 2022
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