Workers in the informal sector in the Sekondi-Takoradi metropolis have been advised to contribute into the three tier pension scheme to secure a future income after retirement.
The advice was given during an outreach programmes on the 3-Tier Pension Scheme organised by the National Pensions Regulatory Authority (NPRA) for workers in the informal sector in the metropolis. It was on theme “Ensuring Retirement Income Security”
It was attended by market women, members of the Ghana Hairdressers and Beauticians Association, Tailors and Seamstresses Association, Drivers Unions, Photographers Association as well as some individuals.
Mrs Rosina Akrofi, Assistant Manager, Corporate Affairs of the NPRA took the participants through how they could participate in both the Group and Personal Pension Schemes under the 3-Tier Pension Scheme.
She noted that the contributions from the informal sector workers would be divided into two accounts namely Retirement and Savings Accounts.
She continued that members of the scheme can withdraw from the savings account to improve their businesses and payment of school fees while contributing.
She indicated that every member of the scheme would be entitled to a lump sum from the scheme and would be paid to every member who could no longer do any meaningful work.
She, therefore, called on the various groups present to register or join any registered pension scheme of any approved Corporate Trustees of their choice.
Madam Deborah Freeman, a member of the Union of Informal Workers Associations revealed that members who remained regular contributors with the scheme for 15 years or more qualified for monthly pension when exiting the scheme.
“This is designed to give all informal sector operators who will sign on to Daakye Informal Sector Pension Scheme, one of the licensed trustees, monthly pension during old age”, she noted.
For his part, Mr Emmanuel Dagbanu, Manager, Corporate Affairs of NPRA noted that just as workers in the formal sector earn a regular income during their retirement, the informal sector workers who joined and contributed to a pension scheme would also enjoy pension benefits in a form of a lump sum and monthly or quarterly pension in their old age.
From Emmanuel Opoku, Takoradi