Government defaults in payment of Tier 1, Tier 2 pensions of public sector workers

Reports have indicated that the government has defaulted in the payment of pension contributions for public sector workers for the period of October 2022 to May 2023.

The report said the government has failed to honour its obligations to settle the 13 percent Tier 1 and the 5% Tier 2 pension contributions of the public sector employees for the period.

Even though some payments were made in March 2023 the amount was just to cover up to September 2022.

The government had however defaulted the payments for almost 8 months.

The National Pensions Regulatory Authority said there will be continued negotiation with the government on the payment of outstanding contributions and timely payment of subsequent contributions to address the issue.

The Authority had earlier prosecuted defaulting employers of Tier 2 pension contributions, where an amount in excess of GH¢15 million from 89 defaulting employers.

SSD/NOQ

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