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2021-04-07

[N] As Majority Leader be circumspect with your utterances

2021-03-19

[I] Goldman Sachs staff revolt at ‘98-hour week’
[I] Over half of staff go back to workplace
[I] Health chiefs confirm Oxford-AstraZeneca Covid jab safe to use
[S] Kotoko Signs Second Brazalian Player
[N] It Is A Blatant Lie That I’ve Declared My Prez Ambition-Agric Minister
[S] Accra Mayor to change face of sports in Greater Accra
[S] Ambassador Lutterodt charges GOC prez to tackle Martha Bissah issue
[S] Ben Nunoo-Mensah hits ground running for GOC
[S] Black Stars to Engage Uzbekistan In International Friendly
[N] House of Chiefs calls for collaboration with MMDCEs for development
[N] Baby Harvesting: More suspects picked
[N] Police pledge commitment to bringing Sheikh Maikano’s murderers to book
[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce
[N] Desist from starting race ahead of time - Obiri Boahen to NPP presidential
[N] Gov’t announces construction of five interchanges in Ashanti
[N] Controversial textbooks: NPP urges NaCCA to enforce rules without fear or favour
[N] Staff working on Tamale interchange call off strike
[N] Newly proposed taxes a huge hindrance to businesses’ recovery
[N] Government can’t take a unilateral decision on salaries for public workers
[N] Ghana records 2 new Covid-19 variants; experts call for immediate action

2021-03-17

[S] First GFA safety and security seminar takes place today
[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[N] Ghana records 698 COVID-19 deaths
[N] NDC’s Ofosu Ampofo behaves like a toddler – Allotey Jacobs
[S] Don’t tax sports betting, ban it – Ato Forson to government
[N] Ama Benyiwaa Doe slams Allotey Jacobs; says he has no influence
[N] Approving Akufo-Addo’s ministers ‘regrettable and unfortunate’ – NDC caucus
[S] Don't rush Satellites players, warns GFA coaching boss
[N] Eastern Regional Hospital detains 246 patients for non-settlement of bills
[N] COVID-19 vaccination in Ghana: 1,000 reports received on adverse effects
[N] Ignore reports of rift between local, foreign staff at AfCFTA secretariat – Govt
[N] Remain calm, support our leadership in Parliament – NDC Council of Elders
[N] Ghana hasn’t recorded any case of blood clots from COVID-19 vaccination – FDA
[N] 9-year-old boy burnt to death as stepfather sets house ablaze
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker
[I] Half of UK managers back mandatory Covid vaccines for office work
[I] Brussels to propose Covid certificate to allow EU-wide travel

2021-03-16

[I] Nick Candy leads £1m drive to oust London mayor Sadiq Khan
... go Back
 
Business

[ 2014-10-31 ]

NPRA: ¢1.64bn In Pension Fund
Funds under the controversial Tier Two pension
scheme have grossed ¢1.64 billion, Chief
Executive of the National Pensions Regulatory
Commission has revealed.

Laud Senanu said the figure represents
contributions from the public, private sector
workers as well as the investment component.

Public sector workers are up in arms against
government, over the Tier Two pension scheme and
are demanding full disclosure and a complete
control over the management of funds accrued to
the scheme.

In the past few weeks, public sector workers have
been demanding to know where their funds have been
lodged, how much has been accrued and who are
behind the Pensions Alliance Trust, the company
government appointed to manage the tier two
pension fund on behalf of the workers.

In their anger, 12 public sector workers unions,
declared an indefinite strike, bringing the
country's education and health sectors on their
knees.

Employment Minister Haruna Iddrisu in an attempt
to assure the workers that their monies are safe,
said a total of 440 million cedis had accrued to
the fund.

But the workers were not convinced. They did not
understand how a fund they began contributing to
since 2010 had grossed only 440 million cedis.

Per the Pensions Act, five per cent of the
workers' salary has to be deducted into a tier two
pension scheme whilst the employer contributes 13
percent to SSNIT.

The new law was passed in 2008; with the year of
implementation being 2010.

The first batch of contributors under the tier two
pension scheme are supposed to retire in 2015 and
the workers want to be assured that their
contributions are safe and sound before they go on
retirement.

Addressing a press conference in Accra, Thursday,
the chairman of the National Pensions Regulatory
Commission, Laud Senanu, said the workers'
contributions are lodged safely into the Temporary
Pension Fund Account (TPFA) at the Bank of Ghana.

Joy Business' Emmanuel Adjei who was at the press
conference reported Mr Senanu as saying that the
1.64 billion cedis is in three components.

The first is the private sector workers'
contributions which were paid to SSNIT and later
transferred into the TPFA. That amount has grossed
a total of 521,885,987.36 cedis.

The second is the public sector workers'
contributions paid to the Controller and
Accountant General's Department and later
transferred to TPFA. That has also grossed
488,768,270.73 cedis and the third is the
investment component which has grossed over 600
million cedis- all amounting to 1,641,11,027.70
cedis.

Laud Senanu said there is an overlapping
membership of schemes with some public sector
workers belonging to different scheme managers.

The NPRA has had to freeze all schemes until the
misunderstanding between the workers and
government is resolved, he stated.

Source - Joy News



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