The National Pensions Regulatory Authority, NPRA has extended by over two months, the registration of new schemes under the 3 Tier Pensions Scheme. Pension Fund Trustees and Employers called for the extension of the submission of applications for the registration of the various schemes they are developing. After an emergency board meeting, the authority has extended the deadline from April 16 to June 30. The 5 percent contributions lodged at the Bank of Ghana is however expected to be transferred to the Trustees from 1st May. NPRA’s Board Chairman, Kwame Asante insists this is not likely to be affected by the extension. “The contributions would be transferred to registered schemes. So as and when we register a scheme and we establish the group of workers, the amount of contributions as well as the accruing interests, then total amount would be transferred to the schemes” he explained. “According to the law, there is a 90-day period for the transfer of the contributions after registration of the schemes. So within this period if there is a problem we would call the sponsors of the scheme to find the way forward” he concluded.