NPRA boss recognised for contribution to pensions industry
The Chief Executive Officer (CEO) of the National Pensions Regulatory Authority (NPRA), Mr Hayford Atta Krufi, has been recognised for his sterling contribution to the growth of the pension industry.
Mr Krufi was adjudged the 2020 Pension Personality at an awards ceremony held in Accra.
A statement from the authority said the award was in recognition of his outstanding service, innovation and tireless efforts in the pension industry.
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The ceremony was organised by Instinct Wave, publishers of the Instinct Business Magazine and organisers of the Instinct Business Finance Innovation Awards.
Citation
A citation accompanying the award said: “Under your leadership, the NPRA has chalked up many significant successes, key among them being the transfer of an outstanding GH¢3.1 billion in tier two pension funds to the custodial accounts of the various labour unions’ pension schemes, the opening of Sunyani and Takoradi Zonal Offices of the NPRA and the launching of a pension scheme for cocoa farmers.”
It said the transfer of the funds represented a major milestone that brought closure to a six-year tussle between the government and labour unions over the management of the funds.
It said Mr Krufi’s other key achievements included the setting up of a unit in the Social Security and National Insurance Trust (SSNIT) to regulate and monitor the basic national security social scheme (BNSSS), the weaning-off of the authority from government subvention, the establishment of a Pensions College and Trustees Training Centre and the acquisition of land for the Head Office Complex.
“Under your leadership, NPRA continues to break new frontiers and contribute immensely to the business community and the nation’s economy. Indeed, you have given a new meaning to the pensions industry and redefined pensions in Ghana,” the citation said.
Development plan
The NPRA CEO said after receiving the award that the authority had developed a five-year development plan to increase pension coverage in the country to 40 per cent.
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Mr Krufi said there was the urgent need for all and sundry to be actively involved in the drive to increase coverage to help reduce post-retirement poverty.