The Director of Planning, Research, Monitoring and Evaluation at the National Pensions Regulatory Authority (NPRA), Philemon Laar,
The Director of Planning, Research, Monitoring and Evaluation at the National Pensions Regulatory Authority (NPRA), Philemon Laar, has rejected claims by Member of Parliament Vincent Ekow Assafuah that the Authority manages pension funds, describing the assertion as inaccurate.
Speaking on JoyNews on April 21, Mr Laar said the claim misrepresents the legal mandate of the NPRA and risks misleading the public about how Ghana’s pension system operates.
“I think that it’s important that a Member of Parliament understands the basic rudiments of the laws of our country… the impression that the NPRA is the repository of pension funds in this country is wrong,” he said.
He explained that under Section 7 of the National Pensions Act, the NPRA’s role is strictly regulatory. According to him, the Authority ensures compliance with pension laws, issues guidelines, sets standards, conducts research and investigates complaints within the sector.
Mr Laar stressed that the NPRA does not handle or retain pension contributions.
“We do not keep funds… pension funds reside with Tier 1 under SSNIT, while Tier 2 and Tier 3 are managed by corporate trustees and other schemes,” he clarified.
He questioned the basis of the allegations against the Authority, asking the MP to identify any specific breach of its mandate.
“What aspect of this mandate has been breached?” he asked, adding that it is inaccurate to accuse the NPRA of dissipating funds it does not control.
The remarks come amid a standoff between the NPRA and the Minority in Parliament over allegations of mismanagement at the Authority.
In April 2026, the Minority raised concerns about the operations of the acting Chief Executive Officer, Chris Boadi-Mensah, including claims that he had doubled his salary without board approval and carried out unauthorised restructuring.
Other allegations include a reported GH¢8 million expenditure on a training programme at Bentley University in the United States, a GH¢4 million consultancy payment to former Chief Executive Officer Dr Kofi Anokye, and concerns over procurement and infrastructure spending.
The Minority also questioned a planned GH¢700 million Phase Two headquarters project while Phase One remains unused, the alleged purchase of seven Land Cruisers for GH¢15 million in late 2025, and nearly GH¢1 million spent on staff transfers.
However, the NPRA has rejected the claims, stating that some of the figures cited have been misrepresented.
The Authority maintained that the Bentley University programme is a six-month hybrid course, not a short-term trip, and that the consultancy engagement with Dr Anokye was lawful and aimed at developing micro-pension systems.
It also stated that only two Land Cruisers have been procured since 2023. Mr Laar further dismissed claims that the NPRA Chief Executive Officer had doubled his salary, describing the allegation as unfounded.
“The basic legal principle is that he who alleges must prove… the CEO has not doubled his salary. We invite the media and the public to verify,” he said.
He urged public officials to exercise caution in their commentary, stressing the need to uphold the dignity of public office.
“The office of a Member of Parliament is a dignified one… it is important that we maintain that dignity,” he added.
The Minority has since called for an independent forensic audit into the Authority’s finances, while the NPRA maintains that it continues to operate within its legal mandate and in line with established regulations.
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