Retired agriculturist Kojo Fynn has urged public sector workers to take personal responsibility for their retirement planning instead of relying solely on government salary adjustments to secure better pension benefits.
Speaking on Adom FM’s Dwaso Nsem programme, Mr. Fynn noted that life after active service can be challenging, particularly for public sector workers, where pension payments often vary widely depending on salary levels and contributions made during employment.
“When working in the public sector, depending on your field, you may face issues. People need to plan their life and retirement because it will surely come,” he said.
He cautioned that relying entirely on government salary increments to improve pension benefits is risky given the unpredictable nature of the economy.
“We cannot solely rely on salary increments to get high pension benefits because what if government says there is no money?” he questioned.
Mr. Fynn encouraged workers to make proactive lifestyle and financial choices to ensure a comfortable retirement, emphasizing the importance of health and balance.
“Life is sweet, so we must prioritise our own well-being, eat right, and live right to enjoy life to its fullest,” he advised.
Ghana operates a three-tier pension system regulated by the National Pensions Act, 2008 (Act 766). The first tier is the mandatory Social Security and National Insurance Trust (SSNIT) pension, which provides monthly benefits based on contributions and years of service. The second tier is a compulsory occupational pension scheme managed by private trustees, while the third tier is a voluntary personal pension plan designed to encourage additional retirement savings.
Despite these structures, many retirees still receive modest monthly benefits due to low salaries during active service and insufficient contributions. Analysts have therefore urged both government and workers to prioritise retirement planning to ensure financial security in old age.
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