|
Getting your Trinity Audio player ready...
|
The National Pensions Regulatory Authority (NPRA) has strongly rejected allegations made by Old Tafo MP Vincent Assafuah, calling them “false, misleading, and unsubstantiated.” In a press release issued on April 16, 2026, the Authority addressed several claims made by the MP, covering issues such as salary adjustments, procurement, consultancy contracts, and its proposed head office project.
The NPRA clarified that it is not responsible for managing pension funds, contrary to Assafuah’s suggestion. The Authority explained that its role, as outlined under the National Pensions Act, 2008 (Act 766), is regulatory—focused on overseeing and monitoring the administration of the three-tier pension system.
Responding to claims regarding the Chief Executive Officer’s salary, the NPRA dismissed assertions that Chris Boadi-Mensah had doubled his salary upon taking office. The Authority clarified that a 25% salary increase had already been approved by the previous board in September 2024, with implementation set to occur before Boadi-Mensah’s tenure began. “It is therefore untrue that the CEO doubled his salary. A little due diligence would have clarified this,” the statement emphasized.
On the issue of procurement, the NPRA rejected the claim that it spent GH¢15 million on seven Toyota Land Cruiser vehicles. The Authority confirmed that it currently owns only two such vehicles, which were acquired in 2023 and 2026, and challenged Assafuah to provide evidence to substantiate his claims.
The Authority also addressed allegations about its head office project, stating that Phase One of the building is still under construction and not yet ready for occupancy. It further denied claims that GH¢700 million had been borrowed using pension contributors’ funds to finance the project, calling this assertion “entirely false.”
Regarding the hiring of Kofi Anokye as a pension consultant, the NPRA stated that the decision was both lawful and essential. The engagement, it explained, was in line with Act 766 and aimed to help expand pension coverage for Ghana’s predominantly informal workforce. The creation of an Informal Sector Directorate was highlighted as a strategic move, given that more than 80% of Ghana’s workforce operates outside the formal pension system.
The NPRA also clarified that its training program for its Board members at Bentley University is a six-month hybrid course, contrary to Assafuah’s claim that it was a two-week program.
In conclusion, the NPRA reaffirmed its commitment to transparency, accountability, and prudent regulation of Ghana’s pension industry, insisting that the allegations made against it are not supported by the facts.
Story by Efua Nessa
Source:Loco tv