The Chief Executive Officer of Axis Pensions, Afriyie Oware, has challenged pension fund managers to stop funding the government and channel their resources into private sector to help unlock their potential for sustained growth. Mr Oware said the practice where the fund managers acted like an extension of the Ghana Revenue Authority (GRA) by mobilising […]
Two labour groups have joined the calls against the decision of the government to include Pension Funds in a proposed domestic debt exchange programme. The Civil and Local Government Staff Association, Ghana (CLOGSAG), and the Industrial and Commercial Workers Union (ICU) Ghana, both said that it was against the law for the government to touch […]
The Social Security and National Insurance Trust (SSNIT) is pushing for an amendment of the National Pensions Act, 2008 (Act 766) to compel employers to include the allowances of employees in the computation of their pensions. The move is to enable workers to earn bigger pensions when they retire. The Director-General of SSNIT, Dr John […]
By William A. YEBOAH With the growing turbulence in the financial sector over the past year, it is time to look at the impact on the young pensions industry. Within the last year, we have witnessed the transition and collapse of seven commercial banks for a variety of reasons. Taxpayers have had to commit funds […]
The Forum for Public Sector Registered Pension Schemes on Friday assured public sector workers that the pension funds currently under the management of the four public sector schemes have been invested in accordance with permitted investment guidelines. The forum, made up of 13 entities, in a communiqué after a meeting in Accra, which discussed reports […]
The approach of the Ghanaian government and its regulators to “managing” struggling banks in Ghana has evolved yet again. From majority state-owned banks doing “purchase and assumption”, we moved to “resolution and consolidation”, and now we are on the cusp of state-directed, privately financed, transactions to “save” solvent but capital non-compliant banks. Instead of the Government bearing […]
