National Pensions Regulatory Authority enforces payment of tier-two pension for informal employees
The Bono, Bono East, and Ahafo Regional Office of the National Pensions Regulatory Authority (NPRA), has begun an enforcement exercise on tier two pensions, and asked informal sector employees to report employers who failed to pay their contributions.
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According to Mr Williams Ohene-Adjei, the Bono, Bono East and Ahafo Zonal Head of the NPRA, the authority had set up a taskforce to undertake the exercise, being piloted in the three regions, saying the taskforce would embark on periodic visits to private sector establishments in the three regions.
The exercise is to ensure that informal sector employers complied with or adhered to the National Pensions Act 2008 (Act 766) and paid the monthly contributions of their employees.
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In an interview with the Ghana News Agency (GNA) on the sidelines of the enforcement exercise in the Sunyani Municipality, Mr Ohene-Adjei reminded employees in the informal sector that it was good they sought the interest of their employers, but it was also necessary they sought their individual interest as well.
He said the tier-two pensions were designed to guarantee employees sound financial security, when they retire from active service, hence the need for them to support the NPRA to ensure that employers pay their contributions.
Mr Ohene-Adjei said the Authority was unhappy that many informal sector employers disregarded and remained adamant in the payment of the tier-two monthly contributions, while the employees who were supposed to inform the authority for the right thing to be done, also sat unconcerned.
He said it was a serious offence, punishable by law under Act 766 for employers to fail to pay the tier-two pensions of their employees, and advised those who were not complying to do so in order not to be prosecuted.
The enforcement taskforce visited and inspected the books of some private establishments to ascertain whether such institutions were complying with the Act and paying the tier-two monthly contributions of employees.
It however gave a 14-day ultimatum to some defaulting employers to pay their contributions or be prosecuted.
They included the Pribet Shopping Mart, a shopping mall, CASBE International School, BACSOD, a catholic cooperative credit union and a Goil filling station.