For many Ghanaians who depend on daily sales and irregular incomes, saving towards retirement remains a challenge as immediate financial needs often take priority.

To address this concern, Enterprise Trustees, in partnership with Sinapi Aba Savings and Loans, has launched the Asetenapa Plan, a pension solution aimed at helping informal-sector workers build financial security for their retirement.

The initiative is designed to encourage market traders, small business owners and other self-employed workers to make regular contributions towards their future, regardless of how much they earn.

Head of Advisory, New Business and Marketing at Enterprise Trustees, Ransford Mate-Kole, said the plan allows members to save daily, weekly or monthly, depending on their income and financial capacity.

He noted that many informal sector workers continue working without a structured retirement arrangement, raising concerns about their financial security when they can no longer earn a living.

“One day, we will have to retire. What are we retiring on? We’re urging workers to develop the habit of saving while they are still earning,” he noted.

Beyond retirement savings, Mr Mate-Kole said the plan provides life cover, with a stated payment of 2,500 to beneficiaries in the event of a member’s death.

Members hospitalised for more than two days at a Ghana Health Service-registered facility are also eligible for a daily payment of 50 for up to 30 days, according to the terms outlined at the launch.

On the partnership, he said Enterprise Trustees would combine its pension management expertise with Sinapi Aba’s nationwide network and reach among informal sector workers to improve access to retirement planning and encourage more people to develop a savings culture.

He explained that contributions are voluntary, allowing members to determine how much and how often they save, while a digital platform facilitates registration and contributions.

Chief Executive Officer of Sinapi Aba, Aaron Rex Opoku-Ahene, said the success of the initiative would go beyond the number of pension accounts opened to include its impact on financial awareness, savings habits and the long-term security of beneficiaries.

He stressed that every hardworking Ghanaian, irrespective of income, occupation, gender or location, deserves the opportunity to prepare for retirement.

Mr Opoku-Ahene emphasised that workers in the informal sector, who often depend on daily earnings and lack regular employment benefits, deserve the same opportunity to plan for retirement as those in the formal sector.