A historic book on pensions in Ghana tracing the development of the pension scheme under the British colonial government with an in-depth study of CAP 30, through to GUSS to present day SSNIT pension, as well as the new 3-tier pension scheme has been launched in Accra.
The book, Pensions, The New Investment Perspective for Retirement Planning, authored by Andrews Agblobi, a financial economist and professional finance expert, tackles key issues such as pension as a key asset in workers’ portfolio, development of pension in Ghana, and design of pension schemes and the 3-tier pension scheme.
The book provides an account of the issues on pensions in the Ghanaian context through examining pension management in Ghana, Provident Fund schemes, and SME businesses with retirement plans by comparing them to with what exists presently in Britain.
The book, considered as the first comprehensive text on pensions in Ghana, is among other objectives aimed at arming workers with formulas and working examples that help them do their own calculations of benefits.
It is aimed also at encouraging a new savings and investment culture – especially among the youth – to ensure they can enjoy the retirement they desire in the near future, and so safeguard their lives in old age.
Officials from the National Pension Regulatory Authority described the book as “It is ours” meaning the book is indeed a masterpiece made in Ghana for all Ghanaians and called on people in academia, policymakers, professionals, and researchers in the various fields of higher learning to embrace the book as a working tool.
Representatives from the various tertiary institutions in the country who attended the launch also expressed interest in using the book as one of their textbooks on the subject of finance and pensions in Ghana.
The launch was attended by Members of the Parliamentary Finance Committee, The Trade Unions Congress, Vanguard Life Assurance, Met Life Insurance, SSNIT, Prudential Bank, CAL Bank, Strategic African Security Limited, National Insurance Commission, and National Pensions Regulatory Authority.