Assistant General Manager, Advisory and Marketing, Enterprise Trustees, Hilda Owusu, has entreated workers to take full advantage of the Provident Fund.

The fund is a contributory three-tier scheme set up by the National Pensions Regulatory Authority to ensure retirement income security for all workers in Ghana.

Speaking on Joy FM’s Super Morning Show on Tuesday, April 27, Mrs. Owusu stated that she had observed a trend whereby employees barely take full advantage of the said fund and other tax reliefs available within the Pensions Act

“A few employers take advantage of doing the provident fund for their employees, but you realise that members themselves are not properly involved in the process.

She, thus, has encouraged “members [employees] to take advantage and make sure that you’re properly prepared for pension.”

“Within the Pension’s Act, the NPRA gives the opportunity for members to save towards their pensions. Contributions beyond the compulsory part, where employers and members are able to come together to have PF (Provident Fund) contributions and members are also able to say I also want to contribute additionally to my pensions.

“So looking into the future, we are trying to tell members to go beyond the mandatory contributions and go into the 16.5% extra where the government has given you the opportunity to say contribute and save on taxes and make sure that you are properly prepared for retirement. Because, that’s an area that a lot of people don’t take advantage of,” she stated.