Take Advantage Of The Third-Tier Pension Scheme – CEO National Pension Regulatory Authority Advised Informal Sector Workers

by | Oct 24, 2016 | Lifestyle, Local News, Northern | 0 comments

The Chief Executive Officer for the National Pension Regulatory Authority (NPRA) Kofi Anokye Owusu Darko has advised workers in the informal sector to take advantage of the third tier pension scheme meant to cater for them at old age.

This, he said will help them live better lives at old age without total dependence on family relations.

Mr. Kofi Anokye Owusu Darko gave the advice when addressing participants at a one day sensitization forum organized by the National Pension Regulatory Authorities in Tamale.

The forum which was meant to educate the general public the benefits and importance of the third tier pension scheme drew participants from the farming, Technical and the Vocational sector workers who are not formally employed and educated them on how to contribute towards their retirement (old age).

The chief executive office also advised parents to think of their future or old age while taking care of their children.

According to him, time has changed and eras when children grow up to take care of parents is no more and so the need for parents to start saving towards their future so that they can have financial independence at old age.

” The design of the new pension scheme will ensure that workers in the informal sector just like their counterparts in the formal sector also receive monthly pensions, as well as as lump sum benefits when they retire” he explained

He said the third tier pension scheme  has two separate accounts, one voluntary Provident fund  and personal pension scheme which allows one to get monthly withdrawal and still have a lump Sum during retirement.

Present at the forum were farmers, tailors, hairdressers, barbers, business men and women, officials from the NPRA, the media and general public.

 

By: Abdul-Fatawu Adam Wunizoya, Tamale

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