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NPRA issues ultimatum to informal sector establishments to pay pension contributions

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The National Pensions Regulatory Authority (NPRA) has given a 14-day ultimatum to some informal sector establishments in the Sunyani Municipality to register and pay their employees’ tier three contributions or face prosecution. The institutions include the Pribet Shopping Mart, CASBE International School, BACSOD, and a Goil filling station situated opposite the Sunyani Jubilee Park. The Authority has praised J Adom Limited for its compliance with tier-three pensions and Social Security and National Insurance Trust (SSNIT) contributions.

The NPRA has regretted that the companies have failed to comply despite numerous notices served to them. The Authority conducted an enforcement exercise in collaboration with some of its trustees to ensure that the employers complied and paid their contributions, particularly in view of the Workers Day celebration.

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Mr Williams Ohene-Adjei, the Bono, Bono East, and Ahafo Zonal Head of the NPRA, has explained that the authority had prioritised and was working hard to ensure that many informal sector workers in the country register and benefit from the tier-three pensions to provide them with an assured retirement income security.

For the most part, Mr Ohene-Adjei has advised informal sector employees to remind their employers to pay their monthly contributions and to inform the authority about “recalcitrant” employers who failed to pay. “Do not fear to report them. Your confidentiality is always guaranteed, and remember that you are doing so in your own interest,” he stated.

At J Adom Limited, the financial controller, Mr Mohammed Mubarak Ampofo, has said that the company had since 2019 paid about GHC102,813.37 contributions of employees into the tier-tier, saying “we are inspired to do so because we are all employees and will retire one-day”. The situation, however, was contrary at the CASBE International School, as some of the employees, including the accountant and the headmistress of the school, were not up and doing.

The headmistress of the school, an expat employee, challenged the authority to always remind defaulting employers to pay the monthly contributions of their employees, while some personnel of the authority insisted payments were mandatory.

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