NPRA educates workers on the 3-tier pension scheme in three regions

The National Pensions Regulatory Authority (N.P.R.A.) in its national educational campaign, has educated workers in three regional capitals namely; Cape Coast in the Central Region, Tamale in the Northern Region, and Bolgatanga in the Upper East Region on the 3-Tier Pension scheme. The Authority stressed on the need for employers to join or register a 2nd Tier Occupational Pension Scheme to benefit fully from its provision in the National Pensions Act, 2008 (Act 766) and also to facilitate the release of funds from the Temporary Pension Fund Account (TPFA) lodged at the Bank of Ghana since 2010.

The 2-day fora, organised for the formal and informal sector workers in each of the three regional capitals was chaired by the Ag. Chief Executive Officer, Mr. Laud A.K. Senanu and moderated by the Director of Corporate Affairs, Mrs. Rita Afua Adzovie.
The Ag. CEO in his remarks reiterated the need for workers to save towards their retirement and challenged workers in the informal sector to take advantage of the new 3-Tier pension scheme, by joining the 3rd Tier Voluntary scheme to enjoy pension benefits in their old age. He also advised employers in the Formal sector to either join or register a scheme to especially, facilitate the release of funds lodged in the TPFA account at the Bank of Ghana.

The Corporate Affairs Director, in her remarks advised workers to show keen interest in planning towards their retirement and also to update their records when required. She called upon the media to support in educating workers and the general public on the 3-Tier pension scheme through their various platforms, since some reasonable amount of resources had been dedicated in this regards to ensure a successful implementation of the scheme.

The Education & Training Manager, Mr. Emmanuel Awuku Dagbanu also took participants through a PowerPoint presentation on the 3-tier pension scheme. The presentation covered a brief history on the pension reform, clarity on the 3-tier pensions scheme and its benefits. He also covered the role of the NPRA, Licensed Trustees, Pension Fund Managers, Custodians, Employers, Employees, Organised Labour and the Media.
The chairman and the moderator took turns to answer questions from participants.

The three regional outreach programmes recorded a high number of participants both in the formal and informal sector of the economy.
The Authority intends to organise the last outreach programme in WA in the Upper West Region for both the formal and informal sector workers, to complete its regional outreach programmes in all the 10 regions in the country.