The National Pension Regulatory Authority (NPRA) has announced that it will start prosecuting employers who have defaulted in the payment of their employees’ pension contributions.
The assistant manager of corporate affairs at the NPRA, Stella Akua Quartey, gave the notice at a workshop organised by the Ministry of Finance for media practitioners in Tamale. About 30 media practitioners participated in the programme.
The three-day workshop was aimed at equipping media practitioners with financial literacy skills to educate the public on how to manage their finances and avoid the risks associated with the financial sector, especially on fraud and Ponzi schemes.
The public education campaigns are aimed at equipping customers of financial services with knowledge and skills to use the services that fit their unique needs.
In an interview with Asaase Radio’s North East regional correspondent, 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.”
“So, please, the employers defaulting, NPRA is telling you that now we have prosecutorial powers. We can prosecute you,” she added.
“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 or the reduced retirement age at 55,” Quartey added.
Reporting by Dokurugu Alhassan in the North East Region
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