Gold Coast Securities Limited (GCS), an investment advisory company, on Friday organised a workshop on the new 3-tier pension scheme for chief executives, human resource managers, financial administrators and union representatives in the central region to educate them on the law and equip them on how to start provident funds at their work places in conformity with the new pension scheme.
Mr Fiagbenu (left) addressing the press at the event whiles Mr Laar (right) and Mr Mario A Arinza (middle) look on.
The workshop, which was on the theme, ‘The new 3-tier pension scheme and the way forward’ also aimed at educating employers and employees on the implications of the new pension scheme on existing provident funds and the rules governing them.
Addressing participants at the workshop held at the Coconut Groove hotel in Elmina, the managing director of GCS, in charge of Western and Central regions Mr Alex Laar noted that the new pension law requires all companies to register retirement schemes as well as its trustees hence the workshop to educate workers on it.
Mr Laar said the workshop was also to discuss how to convert existing schemes to meet the specifications and requirement of the new pension law.
He explained that workers who contribute under the new 3-tier pension scheme will enjoy tax reliefs and other benefits such as housing schemes, and withdrawal of one’s contributions before retirement among others.
The head of pensions growth in Accra, Mr Nathaniel Fiagbenu stated that since GCS has been doing pensions for so many years as well as contributing to the successful design and certification of tax-free 3-tier provident fund schemes, it was necessary for the company to embark on the sensitisation programme to ensure that people invest properly in their future.
According to him, GCS must ensure that all Ghanaians in both the formal and in formal sector understand the main law and participate in it to make it successful.
He hinted that GCS was going to be the pension fund managers under the new law to give investment advice to workers to enjoy the enormous benefits in the law.
Mr Fiagbenu added that GCS aims to help Ghanaians register their pensions so that they can participate in the new law.
He advised Ghanaians to save for their future and internalise the benefits in of the new pension law to enable them participate in the 3-tier scheme to understand it better.
STORY: FROM MAGDALENE SEY, ELMINA, C/R