National Pension Regulatory Authority Ghana, Phase I

In 2008, Ghana overhauled the pension system and introduced a new contributory three-tier pension scheme. The new scheme complies with international good practice and has many similarities to the Swiss pension model. The National Pension Regulatory Authority (NPRA), a relatively new organisation with limited capacity and established systems was tasked with the sector's oversight and regulation.

Ghana's reformed National Pension Act with the new three-pillar system is implemented and thereby contributes to poverty reduction and economic development by providing a reliable, adequate and secure old-age income for all citizens.

NPRA’s capacity to regulate and monitor Ghana’s pensions system is enhanced.

NPRA corporate governance improves significantly.

Principaux résultats attendus:  

Pending uncertainties from reform transition period have been resolved. In particular the interpretation of National Pensions Act with regard to past credits and the reconciliation of Temporary Pension Fund Accounts.

NPRA started to regulate the sector and monitoring tasks become routine.

NPRA's processes and structures are improved and result in a better performing institution.

Public Financial Management capacity within the NPRA is strengthened.

Phase 1 01.01.2013 - 31.12.2017   (Active)