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Business News of Sunday, 2 December 2018

Source: GNA

General Trust Company holds seminar on pension schemes

Mr David Appiah Ofori, Chief Executive Officer of the General Trust Company Limited, has called on Ghanaian workers especially those in the informal sector to retire right by investing in pension schemes to enable them enjoy their retirement.

He said the Ghanaian traditional norms such as funerals, engagements and other social activities increased the retirement resources needed by each of us that was the need to invest now for a better future.

Mr Ofori made the call when speaking at a seminar on pension schemes organized by the company in Accra.

"There is the need to save for retirement, because every working individual will retire one day, and that this should not come as a surprise", Mr Ofori said.

He said it was very important for workers to plan their retirement well and enjoy their old age and minimize the burden on their children and other family members.

"Retirement is something we all need to consider and start planning as soon as we start our working life", he said adding that the little we invest today towards our retirement can change our lifestyle therefore everyone must take pension seriously.

Mr Ofori urged industry players to venture into the informal sector, educate our fellow citizens on pension benefits, the various products and services and enroll them for a secure future.

He said the informal sector workers constitute about 80 percent of the working population and pension administrators have not been able to enroll most of them onto any retirement package.

Touching on the operations of pension administrators, Mr Ofori said company has the most robust operating system in the industry.

"We have invested so much into building a very robust system that can be used to manage data in the country. With the growing number of clients, it is important we invest in building this kind of system so we can serve our customers better", Mr Ofori added.