The National Pensions Regulatory Authority (NPRA) has raised concern over the increasing number of employers failing to remit pension contributions on behalf of their employees despite deducting the required amounts from workers’ salaries.
Speaking in an interview with Ohene Kinnah on Plan B FM’s Ebaanosen, the Regional Manager for the NPRA Tema Region, Bright Abekah Mensah, said the growing trend poses a serious threat to workers’ retirement security and undermines confidence in Ghana’s pension system.
According to him, trustees of registered pension schemes have reported several cases of non-compliance by employers.
Mr. Mensah reminded employers that under Section 3 of the National Pensions Act, 2008 (Act 766), every employer is legally required to pay mandatory pension contributions for employees regardless of the size of the workforce.
He stressed that the law applies to all employers, whether they employ one worker or thousands.
He further warned that failure to comply constitutes an offence under Section 83 of Act 766 and could attract sanctions.
“Defaulters will be surcharged a 3% penalty on the amount in default, compounded monthly, to protect the worker,” he stated.
The NPRA says it remains committed to enforcing compliance within the pensions sector to safeguard contributors and strengthen public confidence in the system.
By: Bernard Mensah | Planbfmonline.com
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