The National Pensions Regulatory Authority (NPRA) has raised concern over increasing reports that some employers are failing to remit pension contributions on behalf of their employees, despite deducting the required amounts from workers’ salaries.
According to the Authority, trustees of registered pension schemes have flagged multiple cases of non-compliance, describing the situation as a violation of workers’ rights and a threat to their retirement security.
The NPRA reminded employers that under Section 3 of the National Pensions Act, 2008 (Act 766), every employer is legally required to pay mandatory pension contributions for their employees, regardless of the size of the workforce, whether you employ one person, two, or a thousand.
The Authority further emphasized that failure to comply constitutes an offence under Section 83 of Act 766. Employers who default in the payment of pension contributions are liable to sanctions.
“Defaulters will be surcharged a 3% penalty on the amount in default, compounded monthly, to protect the worker,” the NPRA stated.
The Authority urged all employers to adhere strictly to the provisions of the law and ensure timely remittance of pension contributions to avoid penalties and legal consequences.
The NPRA also encouraged employees to monitor their pension contributions and report any irregularities to the appropriate authorities.
The Authority reaffirmed its commitment to enforcing compliance within the pensions sector to protect contributors and strengthen confidence in Ghana’s pension system.
