Policy think tank IMANI Africa has raised alarms over alleged political interference in Ghana’s Tier-2 and Tier-3 pension administration, citing unilateral contract reassignments by state enterprise appointees.
Founding President Franklin Cudjoe described these actions as “dangerous” violations of the National Pensions Act (Act 766), jeopardizing retirement security for millions of workers.
Official records indicate political appointees at State-Owned Enterprises (SOEs) are allegedly canceling existing pension management contracts and redirecting them to politically connected firms without worker consultation.
Cudjoe emphasized these funds constitute individually held trust assets owned by workers, not employers or government entities making such interventions unlawful.
The pattern echoes past Social Security and National Insurance Trust (SSNIT) scandals where political mismanagement caused significant losses.
IMANI warns this “culture of patronage” risks triggering systemic pension crises, eroding public confidence, and deterring investment. Cudjoe specifically criticized the National Pensions Regulatory Authority (NPRA) for alleged regulatory overreach in instructing contract terminations.
IMANI urges labor unions to demand transparency and consultation, while calling on President Mahama’s administration to enforce governance reforms.
“This isn’t about contracts, it’s about worker dignity and retirement security,” Cudjoe stated, signaling plans to publicly identify entities involved if interventions continue.
The alert surfaces as Ghana’s pension sector manages over GH₵80 billion in assets.
