The Deputy Minister for Tourism, Arts and Culture, Mark Okraku-Mantey, in an address to stakeholders in the entertainment industry, said President Nana Addo Dankwa Akufo-Addo, is keen on setting up pension schemes for creatives in Ghana.
According to him, the number of veterans who are retiring and calling on the government to come to their aid financially will become a thing of the past.
Speaking on the theme, ‘Creative Arts Stakeholders, Pension Conversation; Plan to Retire, Don’t Retire to Plan’ at the Alisa Hotel, Mr Okraku-Mantey emphasised the need for entertainers to plan for their pension when they retire from active music and acting industry.
The interactive session, which took place on November 4, 2022, had some veteran musicians and actors share their concerns about their retirement and pension in Ghana.
The Deputy Tourism, Arts and Culture minister reiterated the First Man’s decision and plans to help aged creatives, adding that, it is one of the issues on his heart.
According to Mr Okraku-Mantey, he had the privilege to work with the Ghana Music Rights Organisation (GHAMRO) some years ago and his experience with the music business opened his eyes to the plight of these musicians.
According to him, some veteran musicians who were very huge circa the 70s and 80s are now struggling to keep up with their finances because there was no pension package instituted for them in their prime days.
He further urged stakeholders to have a down-to-earth conversation with pension scheme providers such as bankers, insurance companies etc. to know the various pension, insurance and investment packages they can implement for entertainers to subscribe to.
He also explained the gesture will help to reduce the number of creatives who are tantamount to suffer a similar fate as their predecessors.
“Over the years we hear some of our veterans retire with the issues with their old age. I am lucky to have worked with GHAMRO for some time and I had musicians come around, and they were huge in the 80s and 90s.
“Let’s have some down to earth conversation with the insurance companies and bankers here. The insurance companies too please have all the time and tolerance for the creatives… We must kill this problem once and for all,” he said.
Nonetheless, Mr Okraku-Mantey entreated financial institutions to establish pension packages tailored for creatives and also have the tolerance and patience to customize their products to suit them well.
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