The Pension Reform Implementation Committee says the new pension scheme embodied in the National Pensions Act has enough built-in mechanisms to ensure security and safety of funds. There are public fears about the sustainability of the new scheme which replaces the Social Security and National Insurance Trust Pension Scheme. But Consultant to the committee, Emmanuel Aryee, says government has the best of intensions for introducing the new scheme. He said the establishment of the National Pensions Regulatory Authority which will have oversight responsibility for all the schemes will prevent malfeasance and non-transparency. The National Pensions Act, Act 766, was given a presidential assent in December 2008 to provide a three-tier pension scheme. The scheme targets both public and self employed workers who were not covered under the SSNIT Scheme. Though stakeholders have expressed concerns about the security of the scheme, officials say its enormous significance cannot be overruled. The committee is currently on a nationwide pilot sensitization program to educate workers on the new scheme. It has so far toured Central, Volta, Western and parts of Greater Accra Region and it is due next in the Ashanti Region. According to Mr. Aryee, the Act makes it impossible for fund managers to exercise unilateral authority over the scheme. He said the establishment of an Authority with oversight responsibility and issuing licenses to qualified agencies will check malfeasances. Moreover, the three tier-systems make it impossible for fund managers or custodians to have autonomous powers over the scheme. According to him, workers will exercise adequate powers over their own pension schemes. On SSNIT, Mr. Aryee said it would not be abolished outright but its role would be re-defined. Ohemeng Tawiah, Nhyira FM