The National Pensions Regulatory Authority (NPRA) has transferred you use GH193,116,008.95 to Licensed Trustees administering mandatory 2nd Tier Occupational Pension Schemes.

The amount represents total funds sent to Trustees in 2015.

The Authority commenced the transfers in November this season after applicants (Licensed Trustees) had successfully experienced validation of information and sufficient research on compliance processes set up by the Authority.

A statement issued by NPRA and copied into the Ghana News Agency in Accra, said at this point, 12 Occupational Pension Schemes and 1,918 employers have taken advantage of the exercise.

These beneficiaries include Schemes and Employers during the private sector and various 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 (personally Employer), SSNIT Second Tier Occupational Pension Scheme (for example Employer), Newmont Ghana Occupational Pension Scheme (for example Employer) Ecobank Ghana Limited Tier 2 Pension Fund (first Employer) and GPHA Tier 2 Pension Scheme (for 1 Employer).

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

In the 1st 1 / 2 of 2016, the Authority may even commence transfers to schemes from the public sector to the payroll of Controller and Accountant General’s Department, once such schemes are duly registered from the Authority.

Employers with not registered their Mandatory 2nd Tier Occupational Schemes should try to stick to the ongoing compulsory enrollment, embarked upon because of the Authority, together with Licensed Corporate Trustees so as to qualify to receive the TPFA Funds

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