Private Pension Scheme’s assets have grown to 13.1 billion – Amartey-Vondee
By Patience Gbeze, GNA
Accra, Sept. 8,
GNA – Mr Ernest Amartey- Vondee, Director of Regulation, National Pensions
Regulatory Authority (NPRA), said the private scheme assets have grown to 13.1
billion while that of SSNIT stood at 9.24 billion.
That, he said,
was an indication that the tier-2 Pensions Scheme is a better choice, adding
that "there is the need to improve governance of the scheme to make it
He was speaking
at a panel discussion to climax this year's Health Services Workers' Union of
TUC- Ghana Week celebration in Accra.
Week celebration was on the theme: "Organising for Better Pensions from
2020 and Beyond, A Time to make a Difference".
Amartey-Vondee noted that about 85 per cent of the active workforce are in the
informal sector and were not captured under the tier-2 Pensions scheme.
l am glad that Organised Labour is embarking on formalising that sector,"
he said and urged the Unions to double their efforts to ensure that the
enrolment became positive.
emphasised on the need to make Pensions Arbitration Committee functional to
address grievances of contributors.
Amoateng, Chairman of Board of Health Sector Occupational Pension Scheme, urged
contributors to fill their enrolment forms to enable them credit their
investments to their accounts.
He noted that
some facilities were not paying the tier-2 pensions for their members and urged
contributors to constantly check to address the problem.
Mr Reynolds O.
Tinkorang, the General Secretary of HSWU, said Organised Labour, spearheaded by
the Union, continued to fight to ensure the Social Security Pensions for
members were enhanced.
He said as a
result, Organised Labour mooted for an increment of 41.9 per cent on the SSNIT
lump sum to completely erase the annuity factor deductions, but after
negotiations the parties settled on a 31 per cent increment for SSNIT
Pensioners effective from June 1 to December, 2019, he said.
He announced that the Union paid
GH¢1,061,062.00 as welfare benefits to over 500 members who have retired within
Nyarko Otoo, Director of Policy Research, Labour Research Policy Institute
urged the National Pensions Regulatory Authority to speed up work on the
Temporary Fund Account (TPFA) data for individuals to access their data.
Ansah, the Deputy Secretary General of the Trades Union Congress (TUC), Ghana
the Unions support for the course of all workers in Ghana.
the HSWU for their vision and exemplary leadership, which has brought the Union
Source: GNA Story (https://ghananewsagency.org/social/private-pension-scheme-s-assets-have-grown-to-13-1-billion-amartey-vondee-155966)
Published: 2019-09-09 19:33:45
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