Queen mother advises market women, traders to join tier three pension scheme

Nana Yaa Adanse Poduo II, the Paramount queen mother of the Odumase Number Two in the Sunyani West Municipality, has advised traders and market women to register and join the Tier Three Pension Scheme.

“In fact, it’s what you save that makes you rich, but not what you gain,” the Queen-mother stated in an interview with the Ghana News Agency (GNA) on the sidelines of the opening of the Nana Apraku Market at Odumase Number Two.

Popularly known as the Nsasama Station, the Odumase Number Two Traditional Council is presided over by Odomfour Dr Kwasi Apraku III, the Paramount Chief of Odumase Number Two Traditional Area.

The Bono Regional Office of the National Pensions Regulatory Authority (NPRA) took advantage of the event to sensitise the market women on its activities and to celebrate the pension awareness week.

Nana Poduo II lauded the tier three pension schemes and commended the NPRA for designing the scheme to enable traders and market women to also join and benefit from pensions.

The Queen mother advised the traders to adopt the culture of savings to guarantee their financial future.

Nana Poduo II also advised the market women to be wary of the rise in illegal financial institutions engaged in “ponzi schemes,” which might approach them with “juicy and attractive” interest rates.

“Many of these financial institutions out there are not genuine and if you are not watchful, they would lure and dupe you”, she stated, saying “It’s rather better you invest your money in the pension scheme than to rush in for undue profits,” she advised.

Mr Samuel Baffour-Awuah, the Assistant Manager, the Corporate Affairs at the Bono Regional Officer of the NPRA, said the tier three pension provided retirement income security for contributors and advised the market women and the traders to register.