The National Pensions Regulatory Authority (NPRA) has rejected claims by the Minority in Parliament that its Chief Executive Officer, Chris Boadi-Mensah, increased his salary after assuming office.

The allegation was made by the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, during a press conference on Thursday, April 16, where he suggested that the CEO had unilaterally adjusted his remuneration shortly after his appointment in February 2025, at a time when the Authority’s Board had not yet been constituted.

In response, the NPRA issued a statement disputing the claim, explaining that the salary adjustments being referenced were approved prior to Mr Boadi-Mensah’s appointment.

According to the Authority, a 25 per cent salary increment had already been sanctioned in September 2024, with implementation set for January 1, 2025.

Reaffirming its position, the NPRA stated: “The claim that Mr. Chris Boadi-Mensah doubled his salary upon assuming office is completely untrue. The last Board, under the immediate past government approved a 25% salary increment in September 2024, effective 1st January 2025 before his assumption of office. This approval happened under the previous management. It was based on this new salary structure that the exit packages of the former executives were paid.”

It added: “Therefore, the claim by Mr. Assafuah that Mr. Boadi-Mensah doubled his salary upon the assumption of office is entirely false and unsubstantiated. A little bit of due diligence on the part of Mr. Assafuah would have established this fact.”

The Authority maintained that the current salary structure is simply a continuation of decisions taken by previous leadership and not the result of any unilateral action by the current CEO.