The National Pensions Regulatory Authority (NPRA) has bemoaned the low per cent of the working population enrolled on a pension scheme.

Only one out of the 85% of the working population, according to the NPRA, are paying their pensions.

Therefore, managers of the scheme are rolling out a nationwide strategy to whip up interest and encourage enrolment, especially among the informal sector.

Stakeholders in the pension sector have observed private businesses and the public’s confidence in pension fund management companies have dwindled over the past three years.

This was after the Securities and Exchanges Commission revoked the licenses of some pension fund management companies.

Vice Chairman of the Association of Ghana Industries, Ashanti and Bono and Ahafo regions, Kwasi Nyamekye, says the situation is dire.

“The private sector looks for benefits that will accrue to them. Unfortunately, most of the time, the insurance industry does not live to expectations.

"But, lately, the insurance industry looks more promising. If this continues, the private sector will willingly contribute,” he said.

Officials of NPRA for instance say workers in the informal sector so far, have shown the least interest in the 3-tier pension scheme.

Stakeholders in the pension sector therefore observe little understanding and participation of the Ghanaian in pension schemes.

NPRA is therefore encouraging workers in the informal sector to enrol in other schemes regulated by their authority.

“We ensure that all who run pension schemes are doing their jobs as expected. There is an ongoing sensitization program in the country. It is to encourage everyone to roll on to the pension schemes early. Almost 80 to 85% percent of Ghanaians workers are in the informal sector,” Zonal Head of the NPRA in Ashanti Region, Alex Owusu Boakye.

This was revealed at the launch of a flexible retirement savings plan for the informal sector by Negotiated Benefits Trust Company.

CEO, William Asiedu Yeboah, says the company is taking steps to enlighten the informal sector workers on the benefits of retirement benefit/pension schemes membership.

“This education is done to enable others to start their retirement plans early. Or Institution along with the NPRA are sensitizing all year round".