MTN Ghana has launched a pension scheme to provide workers within the informal sector an easy and flexible way to access pension benefits when on retirement.
The launch, dubbed, “My Own Pension Scheme” will afford workers within the informal sector the opportunity to participate voluntarily in pension systems “without undergoing any paperwork and consuming of time which put most people off in picking a pension policy with financial institutions.”
The General Manager of Mobile Financial Services for MTN Ghana, Mr. Eli Hini noted that the number of informal sector workers who have access to social benefits through institutional social security schemes remains negligible adding that the pension reforms over the years have focused mainly on the formal sector.
“Overwhelming majority of Ghana labour force has been left out of structured pension arrangements”, Mr. Hini observed.
According to Mr. Hini, research indicates that the main reason why informal sector workers do not want to participate in voluntary pension systems and sometimes comply with mandatory schemes is that they find the criteria involved time consuming and the paper work involved put them off.
He entreated everybody to sign up on the “MY OWN PENSION” using the short code *170# on Mtn, select Pension and Insurance and continuing to follow the prompt that follows.
“We encourage them to take advantage of this innovative service being offered in partnership with United Pensions Trustees in securing their future,” Mr. Hini urged.
The Director General, Management and Development at the Employment and Labour Relations, Mr. Odame Takyi, stated that the informal sector accounts for approximately 86% of the labour force and businesses in this sector are micro, small and medium enterprises. This, he said, has made government attach so much importance to the welfare of the informal sector operators.
Mr. Takyi appealed to the United Pensions Trustees, MTN Mobile Money, Fidelity bank and all other stakeholders to extend their innovations to other vulnerable groups within the economy to also benefit from the experiences and opportunities of contributing to a pension scheme.
Ghana | Atinkaonline.com | Frank Eshun