Audio By Carbonatix
Total pension funds recorded a significant growth to GH¢84 billion as of the 3rd quarter of 2024.
This is compared with GH¢61.8 billion recorded in December 2023 and GH¢46.6 billion in December 2022.
According to the National Pensions Regulatory Authority (NPRA), the Tier-2 pension fund managed by private pension firms constitutes the biggest with a share of 54%.
This is followed by the Tier-1 managed by the Social Security and National Insurance Trust with a share of 25% and Tier-3 (provident fund) with a share of 21%.
About 75% of the pension funds are invested in treasury bills, treasury notes, treasury bonds and Eurobonds and green bonds.
The NPRA hope to reduce its exposure to the Government of Ghana bonds to ensure liquidity at all times.
Meanwhile, the pensions regulator recorded an impairment loss of GH¢1.0 billion in 2023 and wrote-off GH¢101 million.
As of December 31, 2023, GH¢4.2 million has been recovered from the prosecution of recalcitrant defaulting employees.
Latest Stories
-
Ablakwa receives Presidential Special Envoy on Reparations to advance global agenda
9 minutes -
Christina Koch becomes first woman to travel around the moon on Artemis II
20 minutes -
Epstein survivors’ calls to meet King Charles and Queen harder to ignore as US visit approaches
25 minutes -
UN Secretary-General names Ghana’s Anita Kiki Gbeho as South Sudan envoy
27 minutes -
Mali withdraws recognition of Sahrawi Republic, backs Morocco’s autonomy plan
31 minutes -
Gov’t distributes over 8,500 laptops to One Million Coders project
33 minutes -
Julius Debrah, ‘man to beat’ as NDC’s James Agbey dismisses Musah Dankwah’s polls
39 minutes -
GPRTU in Savannah Region to protest alleged eviction in Damongo
1 hour -
Re: Reinsurance does not replace process — A response to the SIGA–SIC defence
1 hour -
Gender Ministry supports Harriet Amuzu in ongoing abuse case
2 hours -
AG joins plaintiff to scrap OSP ?: We should be mindful of the mischief in this – Bobby Banson
2 hours -
Samson Lardy Anyenini questions willingness of Attorneys-General to prosecute political colleagues
2 hours -
It is only fair the OSP is heard in Supreme Court case – Bobby Banson
2 hours -
Asiedu Nketia resumes Ashanti tour, second leg kicks off on Sunday
2 hours -
NLA denies salary cut claims, threatens legal action over reports
2 hours