The National Pensions Regulatory Authority (NPRA) on Friday, 22nd January, 2016 opened its first zonal office in Kumasi, Ashanti Region which will serve workers, employers and the general public in the middle belt of the country.
In a speech read by Dr. Nii Kwaku Sowa, the Board Chairman of NPRA, he emphasized the need to have the zonal office in Kumasi as part of efforts to decentralise the Authority’s activities and also get closer to workers, employers, service providers and the general public.
Dr. Nii Kwaku Sowa used the occasion to recount the successes chalked by the Authority. He mentioned that as at 31st December, 2015 the Authority had transferred an amount of GHS 193,116,008.95 to 1,919 establishments / employers in the Private Sector. He indicted that 256 schemes has been registered under the 2nd Tier Mandatory Occupational Pension Scheme and also, as part of measures to ensure compliance, the Authority has started implementing its sanctions regime under the National Pensions Act, 2008 (Act 766).
The Minister of Employment and Labour Relations, Hon. Haruna Iddrisu, who was the Guest of Honour, in his speech said President John Mahama had earlier indicated his wish for regional offices for the Authority as it is in fulfilment of the NPRA’s mandate under the law and commended NPRA for ensuring the opening of the zonal office. The Hon. Minister stressed on the essence of continuous education and sensitization on the 3-Tier Pension Scheme and charged SSNIT and other NPRA Service Providers to collaborate closely with NPRA in ensuring its success.
The Hon. Minister also disclosed that government had given policy approval for the NPRA to be autonomous and hence called for new policy investment guidelines to steer the use of pension resources.
The symbolic opening of the zonal office was done by the Hon. Minister of Employment and Labour Relations with assistance from the Chief of Asokwa traditional area and some board members of NPRA including its Ag. CEO.