Kumasi, Oct. 20,GNA– The Health Sector Occupational Pension Scheme (HSOPS) has reported assets under management of GH¢6.72 billion as at the end of 2025, representing a 25.1% growth year-on-year.
The figure represents an increase of approximately GH¢1.3 billion over the 2024 asset base of GH¢5.37 billion, reaffirming the Scheme’s commitment to strengthening pension security through prudent investments, good governance and sustainable growth.
The announcement was made at the Scheme’s 4th Annual General Meeting (AGM), held on Thursday, 15 October 2026, at the Lancaster Hotel in Kumasi, on the theme “Strengthening Pension Security Through Smart Investments, Good Governance and a Sustainable Future.”
The meeting brought together government officials, pension industry practitioners, scheme leadership and other stakeholders to review the Scheme’s 2025 performance and discuss strategies for safeguarding members’ retirement benefits.
The AGM was attended by Nana Yim Awere Ababio II, Toasehene. The keynote address was delivered by Kisseih Antonio, President of the Ghana Securities Industry Association and Managing Director of Sentinel Asset Managers, who highlighted the importance of sound investment practices and effective financial market engagement in strengthening pension security.
Strong Financial Performance and Membership Growth
Presenting the Board Chairman’s Statement, Mr Frederick Mensah Acheampong, Chairman of the HSOPS Board of Trustees, reported gross investment income of GH¢1.218 billion in 2025, up from GH¢889.36 million in 2024.
The Scheme achieved a gross investment return of 23.99%, against a benchmark of 24.01%.
Membership grew by approximately 16% to 267,474, following the registration of 38,229 new members during the year.
In terms of benefits, the Scheme paid approximately GH¢116.7 million to 1,245 members in 2025.
Since benefit payments commenced in 2019, cumulative payments have reached GH¢266.7 million for 6,351 members.
The average benefit-processing period improved from 33 days in 2024 to 32 days in 2025.
Governance and Strategic Priorities
The Board reaffirmed its commitment to sound governance, regulatory compliance and prudent investment management in line with National Pensions Regulatory Authority (NPRA) guidelines.
The Scheme’s investment portfolio remained diversified but is gradually reducing over-concentration in government securities.
As at end of 2025, government securities accounted for 72.2% of assets – falling below 75% for the first time in several years – while equities increased to 15.66%, up from about 5% in 2024.
Chairman Acheampong explained that the shift is part of a deliberate diversification strategy in response to lessons from the Domestic Debt Exchange Programme (DDEP), balancing improved returns with protection of members’ funds.
As part of its institutional development, the Scheme has commenced work on a five-year strategic plan covering information technology, human resources and branding.
It also held a sod-cutting ceremony for its proposed head office project on the road between the Kwame Nkrumah Circle and Korle Bu Teaching Hospital in Accra.
The Board expressed appreciation to scheme members, health-sector trade unions and professional associations, the Ministry of Health and its agencies, human resource managers, service providers and other stakeholders for their continued support.
Members approaching retirement were also encouraged to monitor their pension accounts regularly and remain vigilant against fraud.
Background: What is HSOPS?
HSOPS is one of the four approved public sector occupational pension schemes in Ghana operating under the second tier (Tier 2) of the three-tier pension system introduced under the National Pensions Act, 2008 (Act 766) as amended.
Tier 2 is a mandatory, fully-funded and privately managed defined contribution scheme.
It is funded by 5% of the 18.5% monthly SSNIT contribution paid on behalf of employees, and provides a tax-exempt lump sum benefit on retirement.
The Scheme was established in 2012/2013 with an initial asset base of just GH¢2,000 through the joint efforts of health sector unions and associations, notably the Ghana Registered Nurses and Midwives Association (GRNMA) and the Health Services Workers’ Union (HSWU) of TUC, with approval and licensing from the NPRA.
It is an Employer-Sponsored Scheme set up to cover all health sector employees in the public sector. Its membership has grown from 227,000 in 2023 to 267,474 in 2025.
For its operations, Enterprise Trustees Limited serves as Administrator, Cal Bank Custody Services as Custodian, with UMB Asset Management Holdings and Frontline Capital Advisors among its Fund Managers.
To improve transparency and member engagement, the Scheme launched its website (www.hsopsghana.com) in 2018 and subsequently a mobile application, allowing members across the country to track contributions, access statements and engage with the Trustees.
With assets of GH¢6.72 billion, HSOPS is now ranked as one of the largest occupational pension schemes in the country, having grown from about GH¢1.3 billion in 2020 to GH¢2.1 billion in 2021, GH¢5.14 billion in 2024, and GH¢6.72 billion in 2025.
About HSOPS
The Health Sector Occupational Pension Scheme serves workers in Ghana’s health sector and is committed to prudent investment management, effective pension administration and the protection of members’ retirement benefits in accordance with applicable pension laws and regulations.
GNA
20 Oct 2026
Edited by Samuel Osei-Frempong