According to the Bono Regional office of the National Pensions Regulatory Authority (NPRA), employers in the informal sector must regularly remit employees’ pension contributions or face legal consequences.
Enoch Okomfo Okonah, NPRA’s Bono Regional Compliance Manager, warned that defaulting employers could face fines of up to 2,000 penalty units, be required to settle arrears, or risk a two-year prison term—or both.
In an interview with the Ghana News Agency (GNA) in Sunyani, he explained that while prosecution was not the Authority’s preferred approach, employers must comply with the Pensions Act to avoid legal consequences.
He noted that compliance in the region had been encouraging, adding, “Whenever we issue a demand notice, many employers comply.”
Samuel Baffour-Awuah, Assistant Compliance Manager at the Regional Office, noted that the Third-Tier Pension Scheme remains flexible and is designed to make contributions accessible to all categories of workers.
He said the initiative targeted petty traders, market women, truck pushers, hawkers, hairdressers, dressmakers, carpenters, mechanics, welders, and others engaged in small-scale and menial occupations.
Under the scheme, contributors could pay as little as GH¢2 a month, although future benefits were dependent on the level of contributions.
Mr Baffour-Awuah emphasised that pensions ensured long-term financial security and urged informal sector workers to take advantage of the Third-Tier Scheme for their own welfare.
