National Pensions Regulatory Authority (NPRA) meets parliamentary standing committee on subsidiary legislation to finalise discussions on the draft social Security And National Insurance Trust (Ssnit) And occupational and personal pension schemes
After engaging with various stakeholders to extensively discuss the draft Legislative Instruments of the Social Security and National Insurance Trust (SSNIT) and the Occupational and Personal Pension Schemes, the National Pensions Regulatory Authority (NPRA) organized two more workshops in Koforidua to accelerate and finalise discussions on the draft Instruments.
During the 1st workshop, the NPRA engaged with the Parliamentary Standing Committee on Subsidiary Legislation, Officials from the Ministry of Justice and Attorney General’s Department, Social Security and National Insurance Trust (SSNIT), Ministry of Finance and Economic Planning (MOFEP), and Representatives from Trade Union Congress (TUC), Ghana National Association of Teachers (GNAT), Ghana Employers Association (GEA), Civil and Local Government Staff Association of Ghana (CLOGSAG), Industrial and Commercial Workers Union (ICU) and Ghana Federation of Labour (GFL) to discuss in detail both documents to the satisfaction of all concerned.
The 2nd Workshop which was aimed at fine tuning and finalising the draft Instruments brought on board a smaller group, made up of the NPRA, SSNIT, the Ministry of Justice and Attorney General’s Department to further engage with members of the Parliamentary Standing Committee on Subsidiary Legislation. Both workshops were chaired by the Honourable Kwame Osei -Prempeh, who is also the Chairman of the Parliamentary Standing Committee on Subsidiary Legislation.
The exercise was very important for NPRA as a Regulator and it indeed received the desired attention and meticulous work by the Parliamentary Committee and all other stakeholders involved in the discussions. The Legislative Instruments (L.I 1989 and L. I 1990), were laid in Parliament on the 18th of February, 2011. It is expected that the Instruments would be passed by Parliament without any difficulties due to the sincere work that has been done on the Instruments. The coming into force of the Instruments would ensure the smooth implementation and full compliance with the National Pensions Act, 2008 (Act 766)