The National Pension Regulatory Authority (NPRA) says it will start prosecuting employers who have defaulted in the payment of their employees’ pension contributions as recommended by law.
The assistant manager of corporate affairs at the NPRA, Stella Akua Quartey, gave the notice at a workshop organized by the Ministry of Finance for media practitioners held at the University for Development Studies in Tamale. Some 40 media practitioners participated in the workshop
The three-day workshop was aimed at educating media practitioners within the Northern Belt on financial literacy to educate the public on how to manage their finances and avoid the risks associated with the Ghanaian financial sector, especially on fraud and Ponzi schemes.
The public education campaigns are aimed at sensitizing customers on financial services with requisite knowledge and skills to use the services that fit their unique needs.
In an interview with GHNEWSNOW’s Northern Zone correspondent, Ms. Quartey said “NPRA has prosecutorial powers. Employers who are defaulting payment of contributions towards their employees’ pension will be prosecuted and the contributions retrieved on behalf of the employees.”
NPRA has prosecutorial powers. Employers who are defaulting payment of contributions towards their employees’ pension will be prosecuted and the contributions retrieved on behalf of the employees.
“So, please, the employers defaulting, NPRA is telling you that now we have prosecutorial powers. We can prosecute you,” she emphasized.
“So, please do the needful and contribute towards the future of your employees so that old age poverty is reduced and they can also enjoy pension when they can no longer work at the compulsory retirement age at 60 within the old law and at age 55 of the new law respectively” Ms. Quartey added.