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20.08.2020 General News

Security Services To Remain On Existing Pension Programmes – Oppong Nkrumah

kojo Oppong Nkrumahkojo Oppong Nkrumah
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Government has moved to exclude security services in the country from the unification of pensions.

Its has opted to allow these services to remain on their already existing pension programmes.

This was disclosed by the Minister for Information, Kojo Oppong Nkrumah at a press briefing in Accra on Thursday August 20.

Addressing journalists in Accra on Thursday, August 20, 2020, Mr. Nkrumah noted that the decision was reached to exclude security services such as the Police Service, the Immigration Service, the National Fire Service, the Prison Service and all other security and intelligence agencies after it examined a report on the National Pensions Act, 2008 (Act 766).

He said government has since directed the Minister for Employment and Labor Relations to have the law amended to make room for the changes.

“Cabinet consider the recommendations of the report seeking the following actions for the completion of the unification process. One, the exclusion of the security services that is the police service, the immigration service, the National Fire Service, the Prison Service as well as other security and intelligence agencies. Two, the amendment of Act 766 to exclude the security service from the unification of pensions.

“Cabinet granted approval for the above actions and directed the Minister for Employment and Labor Relations to commence processes to have the law amended to reflect this decision.

The decision therefore is that the security services will not be subject to the unification of pensions and will remain on their old pension programmes. The security services will not be subjected or included in the programmed to unify pensions.

They will instead remain on their already existent pension programmes like the Cap 30 and the other pension programmes that exist,” he said.

The Minister however explained that the reason for the exclusion of the security services from the unification process is because of the peculiar nature of their task and risks they face in their line of duty.

Ghana began processes to unify its pension regime in 2018. With an approval from cabinet to develop a roadmap towards the unification of the regime by 2021, the Ministry of Employment and Labor Relations has engaged stakeholders within the sector in a bid to unify all parallel pension schemes and incorporate them under the three-tier system as stipulated in the National Pensions Act, 2008 (Act 766).

---DGN Online

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