Total pension funds recorded a significant growth to GH¢84 billion as of the 3rd quarter of 2024.
This is compared with GH¢61.8 billion recorded in December 2023 and GH¢46.6 billion in December 2022.
According to the National Pensions Regulatory Authority (NPRA), the Tier-2 pension fund managed by private pension firms constitutes the biggest with a share of 54%.
This is followed by the Tier-1 managed by the Social Security and National Insurance Trust with a share of 25% and Tier-3 (provident fund) with a share of 21%.
About 75% of the pension funds are invested in treasury bills, treasury notes, treasury bonds and Eurobonds and green bonds.
The NPRA hope to reduce its exposure to the Government of Ghana bonds to ensure liquidity at all times.
Meanwhile, the pensions regulator recorded an impairment loss of GH¢1.0 billion in 2023 and wrote-off GH¢101 million.
As of December 31, 2023, GH¢4.2 million has been recovered from the prosecution of recalcitrant defaulting employees.
Latest Stories
-
Youth Ambassador for Peace and Development advocates peace ahead of polls
3 mins -
Communication Minister empowering 1,000 girls in each region in ICT
22 mins -
Police sets up National Election Security Taskforce Press Briefing Centre to address misinformation
26 mins -
Manhyia Palace prepares to celebrate 100 years of King Prempeh I’s return from exile
35 mins -
Early cancer detection reduces risk of death – Doctor
41 mins -
Coastal CSOs Forum partners with government to advance WACA ReSIP Phase 2
1 hour -
AFCON 2025 no show reflects systemic incompetence – Kim Grant
1 hour -
Foursquare Gospel Church Ghana celebrates 50th anniversary
2 hours -
Volta Regional Health Director calls for stakeholder support in polio vaccination campaign
2 hours -
Ghanaians are not ready for violence; nobody can rig this election – NPP
2 hours -
Residents of Western North welcome Alan’s Traders’ Bank idea
2 hours -
Ghana reconstructs demolished Nigeria diplomatic building, Minister directs registration of all diplomatic properties
2 hours -
Vote Bawumia for continuity – Kow Essuman to Ghanaians
2 hours -
Take proactive approach to integrate sustainability-related risks in your operations – Deloitte Assurance Partner to businesses
2 hours -
NDC is training thugs to disrupt December elections – NPP alleges
2 hours