NPRA Honours Ex President J. A Kufuor
As part of the tenth anniversary celebration of the National Pensions Regulatory Authority (NPRA), the Board, Management and staff of the NPRA honoured the Ex-President John Agyekum Kufuor for his foresight and commitment towards the development and establishment of the 3- Tier Pension Scheme in the country.
Management of the NPRA believes Mr. Kufour left an indelible legacy that has benefitted and will continue to benefit millions of Ghanaians. The Three-tier pension scheme that he introduced, aiming at ensuring retirement income security for the Ghanaian worker, will forever be in his honour.
The Management, led by its Chief Executive, Mr. Hayford Attah Krufi, presented a citation to the Ex-President at his residence. Making the presentation, Mr. Krufi praised the EX-President for standing unique and tall in national development. He expressed the view that welfare and human development were so dear to Mr. Kufuor's heart. "You demonstrated beyond all reasonable doubt that the prosperity of Ghana's nationals was and still your primary concern," He noted
Mr. Kufour expressed his profound appreciation to the Authority for working diligently towards the dream he had for the country. He asked them to strengthen their pragmatic measure to ensure the steady growth and judicious use of pension funds.
He urged the Authority to intensify its sensitisation and education efforts for the public to understand and appreciate the crucial role pension funds play in national development. "Elsewhere around the world, pensions funds constitute a significant source of investment from the corporate world. “From all sources, even the government might borrow from the funds at a very low interest and that is how worth could also be created.” He observed.
He called on the Authority to help inculcate into the people the habbit of savings, adding that we live in a country where our saving habit should be a way of investment to improve the economy.
“We don't save much, so we don't have that fund or source of revenue to support investment, but the pension funds should be a significant source to lend to investors to grow the economy. The Ex-President reiterated.
He called on the Authority to work closely with Pensions Fund managers to do the right thing to keep pension funds safe for its purpose. “Pensions Fund Managers must not do the unacceptable thing of dipping hands into the fund if we really know the importance of the funds .” Mr. Kufuor noted.