The Pension Reform Implementation Com¬mittee (PRIC) has drawn up proposals for the introduction of a National Pension Reform Bill and the amendment of the Social Security and National Insurance Trust(SSNIT) Law of 1991. The committee is expected to submit the proposals on the two bills to the government before the end of this month. The Chairman of the committee, Mr T. A. Bediako, who made this known to the Daily Graphic in Accra on Wednesday, explained that the proposed National Pension Reform Bill was intended to provide the legal framework for the establishment of a three-tier pension scheme for Ghana. He said the SSNIT Law needed to be revised to include the new scheme. The proposed three-tier scheme comprises a mandatory basic social security scheme, a mandatory privately managed work-based scheme and a voluntary provident fund and personal pension scheme. Mr Bediako said there were also recommendations for the establishment of a National Pension Regulatory Authority to regulate, supervise and monitor the operation of the three-tier scheme. He said the proposals for the revised SSNIT Law included the establishment of Basic National Social Security Scheme for the purpose of providing monthly pensions and other related matters, the formation of a Board of Trustees with its spelt-out functions and classes of benefits and qualifying conditions, as well as investment pension funds. He said the proposals were based on the final report of the Presidential Commission, the government's White Paper, as well as views and comments from interest groups throughout the country. Mr Bediako stressed that workshops had also been organised for more than 40 organisations within the past three months for representatives of workers and employer organisations, security services and other stakeholder organisations. He pointed out that there was also ongoing discussions with SSNIT and other stakeholders on the restructuring of the Trust as indicated in the Government White Paper. He said the committee and the Controller and Accountant General's Department were presently dealing with special issues regarding CAP 30. In response to workers' agitation; President J. A. Kufuor established the Presidential Commission in August, 2004. The commission was charged to examine existing pension arrangements and to make the appropriate recommendations for a sustainable pension scheme that would ensure retirement income security for Ghanaian workers, with special reference to the public sector. Source: Daily Graphic