Victor Azuma Mejida (standing), Deputy Chief Executive Officer of the National Pensions Regulatory Authority, addressing the meeting

Npra automates operations for real-time industry monitoring, supervision

Daily Graphic Sep - 19 - 2025 , 09:57 2 minutes read

The Deputy Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), Victor Azuma Mejida, has urged employers across the country to embrace technology and comply fully with the National Pensions Act, 2008 (Act 766), to safeguard the retirement security of workers.

He made the call at the annual General Meeting of the Ghana Employers Association (GEA), where he emphasised that employers play crucial role in pension administration, serving as the primary source of funds and key data for managing pension schemes.

“Beyond compliance with the law, employers have a duty of trust to their employees to remit contributions on time, maintain accurate records, and educate workers on their pension rights,” he noted.

According to him, the Authority has automated its regulatory processes with the introduction of a Risk-Based Supervision System (RBSS) to ensure effective compliance.

Mr Mejida, who represented the Chief Executive Officer, pionted out that the move will also ensure real-time risk management and monitoring of the activities of the service providers in order to protect and safeguard the pension funds.

Highlights

He further highlighted the Authority’s commitment to expanding pension coverage in the informal sector, where the majority of Ghana’s workforce was found, explaining that the NPRA was developing flexible and innovative schemes, supported by technology, to encourage informal sector workers to join and save towards retirement.

“Technology can play a vital role in helping employers prevent defaults by providing efficient systems that promote accuracy and timeliness in the payment of contributions,” he said, urging the Association and its members to champion education and compliance among employers,’ he stressed.

Mr Mejida assured of the NPRA’s commitment to protecting workers’ retirement income security, expanding pension coverage for all categories of workers, and contributing to the country’s national development agenda through a strong and sustainable pensions industry.