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National Pension Regulatory Authority targets 40% enrolment of informal sector workers by 2026

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The National Pensions Regulatory Authority, NPRA, has bemoaned the low percentage of the working population enrolled on a pension scheme. In view of this, the Authority is rolling out strategies to encourage more people, especially, informal sector workers to prioritize pension issues. One of such strategies is the regional pension learning alliance platform meeting held in Bolgatanga.

Ghana’s pension sector total assets are GHC 33 billion with two-thirds being held by the private pension schemes. The National Pensions Regulatory Authority, NPRA, Regional Pension Learning Alliance Platform meeting gives participants the opportunity to share knowledge on pension systems, with the view to using the outcomes to formulate and review operating guidelines to scale-up pension penetration in Ghana.

The Tamale Zone Manager of the NPRA, Alhassan Yakubu Fuseini, said it is the desire of the Authority, to rope in 11million workers in the formal sector onto the pension schemes, with a 40 % target for the informal sector by 2026.

Corporate Affairs Manager of the NPRA, Tamale Zone, Abdulai Abdul-Rahaman, said in the Northern zone, the pension sector is not knowledge driven.

The Bolgatanga Branch Manager of SSNIT, Kweku Appiah Twumasi, said payment of social security is a human rights issue.

The Learning Alliance Approach is a process of organizing multiple stakeholders to undertake learning and sharing, and to implement concerned actions aimed at addressing commonly identified problems towards a desired outcome in which all members would have a stake.

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