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Informal Sector Workers Get Pension Scheme
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Dusk Capital, in partnership with Vodafone Ghana and People’s Pension Trust, has launched a scheme to enable employees in the informal sector make their pension contributions through the use of mobile money.

The scheme gives Ghanaians the opportunity to enroll onto pension scheme and make voluntary contributions through Vodafone Cash.

The move is expected to help rope more people into the pension space.

Currently, Ghana has about 12 million people in the informal sector with no pension scheme.

Bernard Osei Tutu, Chief Executive of Dusk Capital, who was speaking at the partnership signing agreement ceremony in Accra, said the initiative, which is the first of its kind in Ghana, would make pensions easily accessible to all Ghanaians through various digital innovations.

“We live in a country where 85 percent of the workforce is in the informal sector. This means that about 12 million Ghanaians don’t have pensions.

“Due to this, thousands of Ghanaians fall into old age poverty. Therefore, we believe the partnership is timely and will help salvage the situation. The move will also go a long way to help the industry,” he said.

Osei Tutu reiterated that the scheme would make it easy for consumers to pay their pensions contributions wherever they find themselves.

“Many people were worried about the medium of collection. So the cocoa seller, the palm nut seller and my mum who sit at the Mallam Atta Market…who do they contribute to. Now we have brought a simple technology to help,” he added.

Samuel Bediako Waterberg, CEO of People’s Pension Trust, said his company was keen on addressing the issues that prevent people in the informal sector from signing onto the pension scheme.

“You don’t have to go to the bank and fill a form to pay just five cedis, with your Vodafone Cash you can just with a click of a button pay for your pension, this scheme is governed by the NPRA so the government is also involved,” he said.

He said the companies involved in delivering the scheme are very credible, stating that “Vodafone is tried and tested so people can trust it, same with People’s Pension Trust.

“We also have support from some of the biggest pension companies in the world supporting us. Dusk Capital is licensed by NPRA so all the parties involved are trustworthy.”

Martison Obeng-Agyei, Director of Vodafone Cash, said: “We are going to give workers the opportunity to contribute and promote their wellbeing after retirement.”

He encouraged all workers- both in the formal and informal sectors- to join the scheme and contribute towards their future.
Source: Daily Guide

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