The Director for Planning, Research, Monitoring, and Evaluation for the National Pensions Regulators Association (NPRA), Ernest Amartey Vondee, has asserted that about 53.3% of pensioners earn less than GHS1000 a month.
Speaking as a panellist during Old Mutual’s ɔbra Pa retirement salary stakeholder engagement program held in Accra, Mr Vondee said, “About 53.3% of people are on the Pension’s Minimum Payout of Less than GHS 1000. We need to be able to enhance what people earn as pensioners. And to do this, the end goal is to be able to diverse the pension contributions for proper enhancement.”
Old Mutual’s Ɔbra Pa retirement salary stakeholder engagement program which was themed ’Retiring with confidence; how to live a fulfilled life with a retirement salary’ was attended by a host of people from varying dispositions of life.
Old Mutual led the pack by recently launching a pioneering retirement product called With Profit Annuity dubbed “ɔbra Pa Retirement Salary” to provide a guaranteed stream of income for retirees for the rest of their lives.
The “ɔbra Pa (which means ‘good life’) Retirement Salary” was designed to help retirees experience all the good things they want in retirement. It helps them enjoy a customized plan tailored towards their unique needs while helping protect what matters most to them in retirement.
To become an ɔbra Pa Retirement Salary beneficiary, one has to be 50 years and above and invest a minimum lump sum of GHs 20,000 upfront. In addition to the monthly salaries for individual policyholders, couples can also enjoy Joint Spousal Benefits when they take the policy together. There is also a funeral cover for all policyholders.
Old Mutual is an integrated financial services provider with a presence in 13 countries on the African continent. Old Mutual has 176 years of expertise in Life Insurance, Pensions, and Banking Services across Africa. In Ghana, the brand is committed to leveraging the 176 years of expertise to partner with Ghanaians to help them achieve their financial goals.