Ghana’s government is considering issuing a GH¢2.7 billion 15 year bond, to offset tier-two pension arrears lodged in the country’s Temporary Pension Fund Account with the Bank of Ghana since 2010.
According to Hartford Attah Krufi, Chief Executive of the National Pensions Regulatory Authority, the regulator of the pensions sector, the bond should be could be ready by August, 2017.
Mr. Krufi explained that the money is currently being audited and valued after which the transfers would be done as soon as the modalities put in place for the disbursement are completed.
“Government is committed to transferring the amount which is about GH¢2.7 billion,” he said. “The government wants to issue bonds to cover the amount for the various Public Sector Schemes to inherit those bonds for a period of 15 years.”
He further noted that a stakeholder meeting will be held to discuss disbursement modalities further but emphasised that “according to the issuance calendar, it is August 2017”.