Employers Protest Against NPRA Threat Of Prosecution

The National Pensions Regulatory Authority (NPRA) has supported the Legacy Pension Trust in their campaign to educate employers on the new pension scheme through their road show. The NPRA who was invited to give a talk on the implementation of the 3-tier pension scheme as a regulator emphasised the need for employers to register their tier 2 scheme with any of the licenced trustees. Making the presentation on the new scheme, the Education & Training Manager of NPRA, Mr. Emmanuel Awuku Dagbanu took the participants through the relevance of pensions, the pension reform in Ghana and the benefits under the 3-tier pension scheme. He admonished employers to register their tier 2 schemes to escape the 31st December deadline issued by the NPRA for the registration of all tier two schemes by employers. The employers on their part insisted that the word �Prosecute� which was used in NPRA advert on registration of tier 2 scheme is harsh and should be modified since the Authority had not embark on massive education on the new scheme across the country. The representative of the Social Security and National Insurance Trust (SSNIT) also explained the mandatory first tier scheme and the benefits associated with it. The Public Education Manager of SSNIT, Mr. Carl Tuffour advised the participants to constantly update their records with SSNIT to avert any difficulty when they retire. Legacy Pensions Trust main organizers of the roadshow together with their Pension Fund Manager�s ( Serius Capital) and and Custodian (GT Bank) took the employers through the registration process of tier 2 scheme. The CEO Of legacy Pension Trust, Mr. Bill Boglo-Hedo entreated the participants to register their scheme with them since they offer the best services.