Over the past couple of weeks we have been hearing talks that the National Pensions Regulatory Authority in Ghana is planning to bring almost all schemes that are currently not part of the three tier structure under the new structure by 2021.

‚ÄčThis is a very important topic for anyone who is currently part of any of these schemes because of the effect it will have on your future pension benefits and your current net income.

Although It is early days yet for the completion of this planned unification and a lot of the details and modalities are yet to be decided, it is important that if you are part of any of these schemes, you must start getting ready for this change over.

So in this episode, I had a chat with Mr. Ernest Amartey-Vondee of the NPRA to shed some light on what this unification is about and how it may affect you if you are part of the affected institutions.

The key questions that we discussed were:

  • What the unification is all about
  • Why It is needed
  • Which institutions will be affected
  • How your income will be affected as you move from a non-contributory structure to a contributory one
  • How your retirement income may be enhanced when you join the three tier structure

So if you work with any of the following institutions, or know anyone that does, then it is important you listen to this chat:

  1. Civil Service - those part of the CAP 30 Scheme
  2. Ghana Public Universities - those part of the Superannuation Schemes
  3. Ghana Police Service
  4. Legal Officers of the legal service
  5. Immigration Service
  6. Prisons Service
  7. Fire Service
  8. Securities and Intelligence Agencies