Thank you Mr. Abdul Malik Kweku Baako, I am told you read Imanis recommendations for resolving the Pensions Impasse which has led to the present strike action. YEARS AGO, we took on the NPRA and forced them to respect and obey the law on Pensions! whilst we pressed they made some changes which saw some schemes begin operations. Unfortunately after we eased the pressure, they stopped, and returned to breaking the law and mismanaging Workers Pensions. Subsequently We went to court to try and stop them on the Merchant Bank sale which was also related to Pension funds, the Court refused to hear the matter saying the Plaintiff lacked the competence to sue. The fallout is the present avoidable strike by 12 Unions which will worsen our already crippled economy! If only governments will do their job... or at least listen! for the benefit of all, here are the key recommendations... hope someone is listening.... 1. The NPRA and SSNIT should immediately, without delay, be asked to produce an Investment report showing how much monies have been received, what it has been invested in return on investment over the period. 2. The NPRA should be ordered to announce a cut-off date for taking Tier 2 contributions into the Temporary Pension Fund by employers to undertake a unified and proper accounting . 3. Employers be informed to make their mandatory Tier 2 and voluntary Tier 3 contributions into schemes of their choice starting from contributions. 4. The Board Chairman (or the entire Board) of the NPRA made to step aside while a forensic audit is undertaken on the stewardship of the NPRA over the Temporary Pension Fund and the investment activities of the NPRA with respect to same.
Posted on: Wed, 22 Oct 2014 13:40:41 +0000
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