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    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

    Tax on agro inputs a threat to agribusiness and food security – Analysts

    Completely exempt individuals from DDEP over GAB agreement – Senyo Hosi to govt

    Assin State College receives Dano “Inner Strength” Award

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    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

    Registrar of Companies increases fee for business registration

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

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    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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NPRA injects cash into private pension funds

bycitibusinessnews
December 24, 2015
in Business, Local Economy, Top Stories
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The National Pensions Regulatory Authority (NPRA) has transferred a total of GHS 193,116,008.95 to Licensed Trustees administering mandatory 2nd Tier Occupational Pension Schemes.

[contextly_sidebar id=”LjicRyYv2RIC08rjncHK9Ij9rjlcY6W2″]The amount represents total funds transferred to Trustees in 2015.

The Authority commenced the transfers in November this year after applicants (Licensed Trustees) had successfully gone through validation of data and due diligence on compliance processes put in place by the Authority.

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So far, 12 Occupational Pension Schemes and 1,918 employers have benefited from the exercise.

These beneficiaries include Schemes and Employers in the private sector as well as other state organisations.

They include Enterprise Tier 2 Occupational Pension Scheme (for 779 Employers), Metropolitan Master Occupational Pension Scheme (for 369 Employers), Petra Advantage Pension Scheme (for 336 Employers), Cedar Pension Scheme (for 188 Employers), Pensions Alliance Trust Fund (for 128 Employers) and Secure Pensions Occupational Master Trust Scheme (112 Employers).

The rest include ECG Tier 2 Pension Scheme (for one Employer), GOIL Occupational Pension Scheme (for one Employer), SSNIT Second Tier Occupational Pension Scheme (for one Employer), Newmont Ghana Occupational Pension Scheme (for one Employer) Ecobank Ghana Limited Tier 2 Pension Fund (for one Employer) and GPHA Tier 2 Pension Scheme (for one Employer).

The Authority will resume the transfers after the Christmas and New Year break.

In the first half of 2016, the Authority will also commence transfers to schemes in the public sector on the payroll of Controller and Accountant General’s Department, once such schemes have been duly registered by the Authority.

Employers who have not registered their Mandatory 2nd Tier Occupational Schemes are advised to comply with the ongoing compulsory enrolment, embarked upon by the Authority, in collaboration with Licensed Corporate Trustees in order to qualify to receive the TPFA Funds.

–

Source:  National Pensions Regulatory Authority

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