By Ghana News

Copyright ghanamma

The Deputy Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), Victor Azuma Mejida, has called on employers to strengthen compliance with the National Pensions Act, 2008 (Act 766) by leveraging technology to ensure timely and accurate payment of pension contributions.

Speaking on behalf of the CEO at the Annual General Meeting of the Ghana Employers Association (GEA), the Deputy CEO underscored the critical role employers play in safeguarding the retirement security of workers.

“Employers are among the most important stakeholders in pensions administration. You are the source of funds and vital data for the effective management of pension schemes,” he said.

He noted that under Act 766, employers are entrusted with key responsibilities, including registering and enrolling all employees in mandatory pension schemes, deducting and remitting contributions within stipulated timelines, and maintaining accurate records.

“These responsibilities go beyond statutory obligations; they reflect a fiduciary duty of trust that every employer owes to their employees,” he emphasized.

Highlighting the role of technology, the Deputy CEO revealed that the NPRA has automated its regulatory and administrative processes through the deployment of a Risk-Based Supervision System (RBSS) and an Enterprise Resource Planning (ERP) platform.

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These platforms have helped NPRA to effectively and efficiently monitor the activities of pension service providers in real-time and standardize the reporting framework, as well as ensure seamless administrative operations at the Authority.

“Employers can now take advantage of digital platforms that simplify filing of contribution reports, streamline remittances, and enhance record-keeping. For employees, this means real-time access to their pension statements, empowering them with information and confidence in the system,” he said.

Mejida also expressed concern about high rates of default among employers, particularly in the private education and hospitality sectors.

“Such defaults undermine workers’ retirement income security and erode trust in the pension system,” he cautioned. Compliance Officers, he added, have been deployed nationwide to inspect contribution records, while prosecutorial powers will be used against recalcitrant employers when necessary.

He urged the Ghana Employers Association and its members to continue championing education on employer responsibilities under the law, especially the importance of remitting contributions on time.

“Technology can play a vital role in preventing defaults by providing efficient systems that promote accuracy and timeliness in the payment of contributions,” he noted.

The NPRA reaffirmed its commitment to working with employers, employees, and other stakeholders to ensure retirement income security for all workers while contributing to Ghana’s national development.

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