NPRA educates informal sector workers on new pension scheme

Retired people could participate in the third tier of the National Pension Scheme which covers voluntary, provident fund and personal pension schemes, Mr.Emmanuel Dagbanu, Education and Training Manager, National Pensions Regulatory Authority (NPRA), said on Tuesday.

He was speaking at an outreach programme on the new three-tier pension scheme for the informal sector organized by the NPRA at Takoradi.

According to him, pensioners who contribute to such schemes would begin to enjoy benefits after five years as others including workers.

Mr. Dagbanu said they could, however, draw money from the schemes to expand their businesses or to pay the school fees of their wards.

He said the third-tier pension scheme is supported by tax benefit incentives to provide additional funds to workers who want to make voluntary contributions to enhance their pension benefits and also for workers in the informal sector.

Mrs Rita Afua Adzovie, Director, Corporate Affairs of the Authority, said trustees of the national pension scheme have been thoroughly screened and found capable of managing funds.

She said the Authority would monitor and supervise their operations to ensure compliance with regulations and imposition of correct administrative charges.

Source: GNA