Audio By Carbonatix
The National Pensions Regulatory Authority, NPRA is re-assuring the much-awaited full-implementation of the new pensions scheme would happen by the end of October, 2012.
This would kick start with the registration of the schemes developed under the pensions reforms by the Trustees.
The timeline for this has been extended a number of times – triggering grave concerns and anxiety among stakeholders.
But the Chief Executive of the NPRA, Sam Pee-Yarley tells Joy-Business; all is now set for a smooth take-off by the end of the month.
“We have registered the Trustees and evaluated the scheme applications. What are therefore going to issue statement of accounts to every worker on whose behalf the 5 percent has been paid. Graphic Corporation is printing them and as they would be issued out as soon as this is completed. The major next line of action immediately after is this would be auditing of the Temporary Fund Account. The monies lodged the Bank of Ghana would then be transferred as and when a scheme is certified” he noted.
He adds that it behoves the Trustees to do due diligence on the schemes they are developing to ensure a successful implementation.
“Some trustees have registered organizations that have never contributed to social security scheme and expect that we give them money. We are going to verify the names of the persons that we you have put as your members and on their behalf contributions have been made. So its not merely registering the scheme and putting on names and social security numbers” he explained.
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