General News of Wednesday, 12 February 2020Source: Graphic.com.ghOnly one per cent of informal workforce on pension scheme - Pensions AuthorityCEO of National Pensions Regulatory Authority, Hayford Atta KrufiThe Chief Executive Officer (CEO) of the National Pensions Regulatory Authority (NPRA), Mr Hayford Atta Krufi, has called for a deliberate national programme that will help change the mindset of the people towards investments, especially pension. He said although workers in the informal sector constituted 85 per cent of the country’s workforce, only one per cent of them had registered on one pension scheme or another, a situation he described as unacceptable. Informal sectorMr Krufi admonished workers in the informal sector to consider registering on at least one pension scheme, particularly the voluntary one, which is the third tier pension scheme. The second tier — the occupational pension scheme — was also mandatory for all employees but privately managed and designed primarily to give contributors higher lump sum benefits, he said. “It is extremely important that we intensify our mass education because a significant proportion of the population is not aware of the importance of pension and has not registered on a pension scheme,” he said.

Source: GhanaWeb February 12, 2020 11:48 UTC