Pension stakeholders push for stronger security for Ghanaian workers

Pension stakeholders have called for renewed commitment to strengthening the resilience and long-term sustainability of Ghana’s pension industry to safeguard retirement income security and support national economic development.

The call was made at the eighth edition of the Pension Strategy Conference hosted by Axis Pension Trust in Accra on Wednesday, May 20, 2026.

Held under the theme, “Renewing the Ghanaian Pension Promise: Promoting Confidence, Resilience and Sustainable Growth,” the conference brought together pension fund managers, trustees, regulators, custodians and other industry stakeholders to discuss the future of pension fund management in Ghana.

The conference comes at a time when the pension industry is recovering from macroeconomic challenges, including inflationary pressures, debt restructuring and market instability, which affected pension portfolios and increased calls for investment diversification.

Speaking at the event, the Chief Executive Officer of Axis Pension Trust, Afriyie Oware, urged stakeholders to assess whether the pension industry is adequately positioned to provide meaningful retirement security for contributors in the long term.

He stressed the need for disciplined long-term investment strategies and stronger collaboration across the industry to improve pension outcomes and achieve the objectives of pension reforms under Act 766.

“The objective of the pension scheme is to provide pension benefits to ensure retirement income security for workers; ensure that every worker receives retirement and related benefits as and when due; and establish a uniform set of rules, regulations and standards for the administration and payment of retirement benefits,” he stated.

The keynote address was delivered by economist and Professor of Finance at the University of Ghana Business School, Professor Godfred Bokpin, on the topic: “Navigating Ghana’s Post-IMF Transition: Historical Perspectives and Future Prospects.”

Professor Bokpin highlighted the importance of fiscal discipline, policy credibility and productive capital allocation in driving sustainable economic recovery and restoring investor confidence.

A major issue discussed at the conference was the need for pension funds to diversify investments beyond government securities into sectors such as infrastructure, manufacturing and agriculture.

A panel discussion involving fund managers, trustees and custodians also explored how pension capital could be deployed more effectively to generate long-term value while balancing fiduciary responsibilities and risk management obligations.

Participants identified challenges including limited bankable projects, investment structuring difficulties and regulatory constraints.

However, speakers noted that Ghana’s current economic transition presents an opportunity for pension funds to reposition portfolios toward sustainable long-term growth while contributing to national development.

The conference concluded with renewed calls for collaboration across the industry to ensure pension funds remain reliable instruments for long-term financial security and economic growth.