The Member of Parliament for Old Tafo, Vincent Ekow Assafuah, has raised concerns over what he describes as poor governance practices within the National Pensions Regulatory Authority (NPRA).
Speaking on Ekosii Sen on Asempa FM, Mr. Assafuah questioned the decision for one individual to serve as both Chief Executive Officer of the NPRA and Board Chairman of the National Insurance Commission, noting that both institutions operate under the Ministry of Finance.
He described the arrangement as a flawed governance structure, arguing that it raises accountability concerns and could negatively affect pension management.
The MP further alleged that the Acting NPRA CEO, Chris Boadi-Mensah, approved a salary increment for himself shortly after assuming office in February 2025, at a time when the NPRA Board had not yet been fully constituted.
He also criticised what he described as a lack of transparency regarding the remuneration of the NPRA leadership, insisting that pension funds must be managed prudently.
Mr. Assafuah called for stronger oversight and accountability in the management of pension funds to safeguard the interests of contributors and retirees.
“How can one person serve as both the CEO of the NPRA and the chairman of the National Insurance Commission, which are two agencies under the Ministry of Finance? This creates a problematic governance structure. Pensioners end up bearing the consequences because their money is being used in ways that could be allocated to other important areas,” he said.
He added, “The NPRA head claims he cannot respond to our inquiries due to the internal supervision programme designed to protect pensioners. What could possibly be secret about the salary of the NPRA boss?”
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