By Frank Kwame Abbor
Ho, June 12, GNA – The National Pensions Regulatory Authority (NPRA) has intensified efforts to expand pension coverage among informal sector workers through a community dialogue programme dubbed “Pension on Wheels” in Ho.
The initiative, held at the Ahoe Community Development Centre, on Thursday, sought to educate traders, artisans, transport operators, farmers and other self-employed persons on the importance of pension planning and the benefits of enrolling onto the voluntary Tier Three pension scheme.
The programme began with a float through the principal streets of Ho to create awareness on the need to prepare for a restful retirement, after which participants converged at the centre for discussions on retirement planning, pension benefits and financial security in old age.
Mr Yakubu Alhasan Fuseni, the Volta Regional Manager of the NPRA, said the programme formed part of the Authority’s strategy to bring pension services closer to the people and encourage participation among workers in the informal sector.
He explained that Ghana’s pension system operated on a three-tier structure, with the first and second tiers largely serving workers in the formal sector, while the third tier was designed to accommodate self-employed and informal sector workers.
“We are bringing pensions to the doorsteps of the public. Our target is the informal sector because we want to reduce old-age poverty and ensure that every Ghanaian can retire with dignity,” he said.
Mr Fuseni noted that beyond public education, the programme aimed at securing on-the-spot enrolment of participants to increase pension coverage and promote financial independence during retirement.
He assured the public that their pension contributions were safe, stressing that the NPRA remained the statutory regulator responsible for overseeing pension administration in the country.
Mr Collins Appraku, Corporate Affairs Manager in charge of Public Relation of the NPRA, said pension should not be viewed as a privilege reserved for workers in the formal sector, adding that the Authority was determined to extend pension services to all categories of workers.
“Whether you are a trader, seamstress, farmer, driver, hairdresser or artisan, pension is for you. We want everyone to appreciate that retirement planning is essential regardless of occupation,” he stated.
Mr Appraku disclosed that the NPRA had established a regional office in the Volta Region for the first time in its nearly two decades of existence, a move he said would strengthen pension education, compliance and stakeholder engagement across the region.
Madam Rosina Akrofi, Corporate Affairs, Education and Sensitisation Officer of the NPRA, urged participants to begin preparing for retirement early and highlighted the importance of maintaining a steady source of income in old age.
Sharing a personal experience involving her late mother, a trader, she explained how financial independence in retirement contributed significantly to the dignity, wellbeing and happiness of older persons.
She said the Tier Three pension scheme offered contributors flexibility through retirement and savings accounts, allowing members to build long-term financial security while retaining access to portions of their savings under approved conditions.
Togbe Dzrake Tsigbe IV, the Paramount Chief of the Akoefe Traditional Area, who chaired the event, commended the NPRA for bringing pension education to the grassroots and urged participants to take retirement planning seriously.
Togbe Kasa III, the Chief of Ahoe, also encouraged informal sector workers to embrace pension schemes, stressing that children should not be regarded as retirement plans.
“It is time for people in the informal sector to move away from depending on their children for food, medicine and clothing in old age. Your children are not your pension,” he stated.
The officials encouraged participants to register with licensed pension trustees present at the event and assured them that the scheme was backed by law and regulated by the NPRA to safeguard contributors’ investments and retirement benefits.
GNA
Edited by Maxwell Awumah/Benjamin Mensah