Total pension funds hit GH¢84bn as of quarter 3, 2024

John Kwaning Mbroh

Total pension funds recorded a significant growth to GH¢84 billion as of the 3^rd 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.

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