The National Pensions Regulatory Authority (NPRA) says, the change in workers’ tier-two pension funds kept in a temporary account at the Bank of Ghana (BOG) towards appointed fund managers, has started.
Mr. Kofi Anokye Owusu-Darko, the acting Founder, said the expectation was that the need to be performed by June, pick up.
He announced this in a speech read for him for an outreach programme organized from the NPRA to educate and help deepen the familiarity with employees in the formal sector from the new three tier pension scheme, in Kumasi.
It put together representatives of numerous organizations, institutions, and scheme corporate trustees.
So far, most of the 10 regional capitals has been covered underneath the outreach programme.
Mr. Owusu-Darko said the Authority was determined to effectively perform its regulatory sticks to properly supervising the operations from the scheme managers.
To encourage market discipline, it had introduced a sanctions regime to make sure that the right things were done, he added.
He again spoke within the NPRA’s decision to jot down specifications on the performance in the carrier’s networks to have contributors constantly updated on the way their contributions appeared to be managed.
Mr. Owusu-Darko urged the trade unions, employer associations along with other stakeholders to assist educate employees on the new pension scheme.