President Nana Addo Dankwa Akufo Addo has appointed the Minister for Employment and Labour Relations, Ignatius Baffour Awuah as the minister responsible for pensions.
This indicates that the Labour Minister will now oversee pensions and related services, which were previously the responsibility of the finance ministry.
The administration of pensions now falls under the purview of the Minister of Employment and Labour Relations.
This occurred following President Akufo-Addo’s decision to move pensions out of the Ministry of Finance.
When Labour Sector Minister Ignatius Baffour Awuah appeared before Parliament’s Public Accounts Committee (PAC) on February 1, 2023, he disclosed that the President has appointed him as the Minister Responsible for Pensions immediately.
Reading a letter dated January 30, 2023, and signed by the President, he read, under Section 2011 of the National Pensions Act, Act 766 as amended “I hereby designate you as the Minister Responsible for Pensions with immediate effect.”
According to him, this meant that the Minister would be in charge of the Social Security and National Insurance Trust (SSNIT) and the National Pensions Regulatory Authority.
The President expressed the hope that the Minister would diligently perform the responsibilities stipulated in Act 766, and that you would ensure that its provisions were carried out successfully.
Dr James Klutse Avedzi, Chairman of the Public Accounts Committee, congratulated Mr Awuah on his appointment.
He commented, “That is very refreshing.”