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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

    Businesses will pass on increased cost of production from high utility tariffs – GNCCI

    KIC and Mastercard Foundation launch Agri-MSMEs acceleration program

    Benjamin Dzoboku appointed as new Managing Director for Republic Bank Ghana Plc

    Gov’t to launch national airline to benefit from AfCFTA – Hassan Tampuli

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    BoG reiterates calls for public to report unapproved banking charges

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    The seven factors driving high cost of living in Ghana

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Over 120,000 persons reimbursed for wrongful e-levy deductions – GRA

    Fuel shortage: New policy to ensure direct delivery of fuel products underway – NPA

    Current high inflation rate not an isolated event – Seth Terkper

    Ghana needs more entrepreneurs to check imported inflation – Finance Minister

    Fuel prices to rise marginally in second pricing window of May – IES

    Samuel Dubik Mahama appointed ECG Managing Director

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

    Businesses will pass on increased cost of production from high utility tariffs – GNCCI

    KIC and Mastercard Foundation launch Agri-MSMEs acceleration program

    Benjamin Dzoboku appointed as new Managing Director for Republic Bank Ghana Plc

    Gov’t to launch national airline to benefit from AfCFTA – Hassan Tampuli

    Accra Brewery PLC launches thematic campaign dubbed ‘Taste no yɛ Deep’

    BoG reiterates calls for public to report unapproved banking charges

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    • Asia
    • Europe
    • Middle East
    • US

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

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People’s Pension Trust targets thousands in informal sector

bycitibusinessnews
November 7, 2016
in Local Economy, Top Stories
Ghana has a large informal sector

Ghana has a large informal sector

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The latest Corporate Trustee in Ghana, People’s Pension Trust Ghana Limited has begun full operations with a pledge to change the face of informal pension administration in the country.

People’s Pension Trust Ghana Limited is targeting to provide at least 500,000 Ghanaians in the informal sector with easy and secured channels of saving towards their retirement within the next five years.

“This is based on our feasibility studies and research over the past two years in the country which has brought us face to face with the alarming extent of poverty among informal sector workers of pension age referred to as “Pension Poverty”.  It is not a pretty sight, and we will not stand by and look on for more people to walk into pension poverty” the CEO of People’s Pension Trust, Samuel Bediako Waterberg noted.

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The company is therefore poised to reduce old age poverty in Ghana by offering innovative and unique pension products for the informal sector.

People’s Pension Trust received its operating license from the National Pensions Regulatory Authority, NPRA in September 2016 after satisfying all regulatory requirements.

It is licensed as a Corporate Trustee to implement the Tier 2 and Tier 3 pension schemes under the National Pensions Act 2008, (Act 766).

The Tier 2 called “occupational or work-based pension” is mandatory for all employees whilst the Tier 3 is a voluntary provident fund targeted especially at workers in the informal sector usually not covered by the two mandatory schemes (Tier 1 &Tier 2).

According to Mr. Waterberg “Even though we have the license to operate both Tier 2 and Tier 3 like all other trustees, our priority is the Tier-3 with players in the informal sector as our prime target”.

“We will roll out innovative Tier-3 products that allow informal workers save for their pension.  People can contribute daily, weekly or monthly by paying cash, with a mobile device or through existing community organizations. We are also committed to ensuring that people are financially educated about saving for the long term,” he added.

–

Credit: People’s Pension Trust Ghana Limited

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A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

NPA allays fears of fuel scarcity in the country

Over 120,000 persons reimbursed for wrongful e-levy deductions – GRA

Fuel shortage: New policy to ensure direct delivery of fuel products underway – NPA

Current high inflation rate not an isolated event – Seth Terkper

Ghana needs more entrepreneurs to check imported inflation – Finance Minister

Fuel prices to rise marginally in second pricing window of May – IES

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