July 2, 2019

IFS National Pension Dialogue

IFS National Pension Dialogue In 2006, Ghana began a review of its pension system to identify ways of ensuring better income security for Ghanaian pensioners. The review culminated in the enactment of a new National Pension Act (Act 766) in 2008. The law establishes a new contributory three-tier pension scheme and a regulatory oversight body, the National Pension Regulatory Authority (NPRA), to oversee administration of the composite pension scheme. Under the law, which remains in force today, 13.5% of an employee’s basic salary is paid to the Social Security and National Insurance Trust (SSNIT) comprising 13% contributed by the employer […]