September 27, 2020
Clickongh

Security services to remain on existing pension programmes – Oppong Nkrumah

The Minister for Information, Kojo Oppong Nkrumah has revealed that the government has taken a decision to exclude security service agencies in the country from the unification of pensions and has opted to allow these services to remain on their already existing pension programmes.

The Minister, while addressing the press on Thursday, August 20, 2020, said the decision was reached after an examination of a report on the National Pensions Act, 2008 (Act 766).

The affected agencies included the Police Service, the Immigration Service, the National Fire Service, the Prison Service and intelligence agencies.

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

“Cabinet considered 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 Labour 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 programme to unify pensions. They will instead remain on their already existing 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 approval from Cabinet to develop a roadmap towards the unification of the regime by 2021, the Ministry of Employment and Labour Relations 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).

Source: Business