NPRA set to enroll self-employed and informal workers in pension programs

To assist in enrolling more self-employed individuals and workers in the unorganized sector in pension plans, the National Pensions Authority Regulatory (NPRA) will host a fair.

This year’s National Pensions Awareness Week included a program that was set for Monday, October 23 to Wednesday, October 25, 2023, at the Accra Metropolitan Assembly’s forecourt.

The event, themed “My Pension; My Future,” is anticipated to serve as a platform for various identifiable groups, including driver unions, market women, the Ghana Hairdressers and Beauticians Association, Tailors and Dressmakers Association, Ghana Hoteliers Association, the Ghana Enterprise Agency, and other self-employed individuals. These groups will collaborate to develop pension schemes for their members.

The Minister for Employment, Labour Relations, and Pensions, Ignatius Baffour-Awuah, will inaugurate the fair.

According to a statement from the NPRA, this program is a part of broader initiatives aimed at enhancing informal pension coverage in Ghana and ensuring comprehensive pension education.

The NPRA also noted that this fair will be held concurrently with symposia designed to impart pension knowledge to the country’s workforce.

“The fair is to educate and sensitise both formal and infor­mal sector workers on pension matters,” the NPRA said.

“All pension scheme providers among other stakeholders will be showcasing their pension prod­ucts and services to the general public to explain and encourage all workers to enrol on pension schemes,” the statement said.

The NPRA emphasized its commitment to guiding those already enrolled in pension schemes to maximize their retirement benefits, with the goal of mitigating elderly poverty.

Participation in the program is offered at no cost.

The statement underscored the significance that the NPRA places on ensuring pensions for all Ghanaians, noting that pension provision has evolved into a human rights concern under the United Nations Convention.

“Pension schemes have now become the necessary substitute as an old-age security system for the aged, and also as a modern mechanism to provide retirement income to the aged for mainte­nance of their standard of living,” the NPRA stated.

Self-employed workers were encouraged to take advantage of this opportunity to secure their retirement income, according to the statement.