The National Pensions Regulatory Authority (NPRA), said workers who were Fifty years and above by 2010 would now are categorized as the earlier Social Security and National Insurance Trust (SSNIT) pension scheme.

This provides a result of age reduction from 55 to Fifty years underneath the National Pensions (amendment) Act, 2014 ACT 883 to profit individuals that fall for the reason that category.

That category of workers would reverse towards 17.5 % as his or her contributions, rather than the 18.5 % contributions beneath the new three-Tier Pension Scheme and SSNIT will be needed to pay their pension beneath PNDC Law 247.

Those who hitherto contributed in to the two-Tier Pension Scheme would even have their contributions resolved and utilized in SSNIT to enable it to repay them appropriately.

Mr Laud Senanu, Acting Ceo of NPRA, made these known in the outreach programme to coach and sensitize workers while in the formal and informal sectors in Wa,? that will help deepen their understanding of the three-Tier Pension Scheme.

He said the qualifying contribution period had happened to be reduced from 20 to 15 years,?while annuity period had increased from 12 to fifteen years.

Mr Senanu hinted that your NPRA would soon hold a stakeholders conference go over with government the uniformity of most pension schemes in Ghana.

Discussing seemed to be on-going between NPRA and SSNIT to permit workers make use of SSNIT numbers to your 1st and 2nd Tier pension scheme.

This, he explained is needed during the unification of pension schemes and earn pension payment easier and easy.

The workers considered necessary the establishment of Regional Offices of the NPRA,? to help you facilitate education of workers to the three-tier pension scheme.

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