Uganda learning from Ghana’s pension system

The Chief Executive Officer (CEO) of the National Pensions Regulatory Authority (NPRA), Mr Hayford Attah-Krufi has urged African countries to collaborate and learn from each other to boost their social security systems in helping to provide adequate and comfortable income security for their citizens.

He was of the view that sharing of ideas and information on social security systems will be to improve social security systems on the continent which will also help boost the economy of the continent.

Mr Attah-Krufi made the call when a delegation from the Parliament of Uganda paid a visit to the NPRA.

He said once no one will live young forever, there is the urgent need for African countries to work together and institute pragmatic measures to ensure a better social security for their citizens.

He expressed the view that stringent regulation and meaningful structures in the pensions industry such as in the case of Ghana, are needed to strengthen policies and programmes to ensure a meaningful and realistic living standard for all classes of people.

The 24-member delegation included parliamentarians and some staff of the National Social Security Fund (NSSF) in Uganda. They were in Ghana to learn at first hand the Ghanaian social security system, and the reforms that have been undertaken in Ghana so as to enable them undertake a similar process in Uganda.