The NTHC Trustees Limited has set an ambitious target to increase the worth of pension fund under its management GHc80 million in the next five years.
Head of NTHC Trustees Limited, Mrs. Sakyibea Ohipeni who disclosed this in an interview with Times Business after the company’s maiden annual general meeting in Accra yesterday, said currently the company holds GHc8.5 million worth of pension funds.
“The objective of the management of NTHC Trustees Limited in the short term is to increase our pension fund which stood at GHc5 million in 2015 to GH17 million in 2017,” she said.
Mrs Ohipeni said the management was pursuing an aggressive marketing strategy to enrol more organisations, both formal and informal, onto the scheme.
The Head of NTHC Trustees Limited said currently, the company had 8,000 institutional and 500 individual contributors on the scheme.
“From next year the intention of NTHC Trustee Limited is to extend and intensify our marketing campaign and outreach programme to other regions to enrol more members onto the scheme,” Mrs. Ohipeni said.
She said her outfit was investing the funds in government securities, fixed term deposits and collective investment instruments locally to attract more returns on the funds, saying “we are very cautious in managing the pension contribution of our members to provide them financial income security when they go on retirement.”
On the delay of payment of pension contribution to NTHC Trustees Limited, she said the regulator; the National Pensions Regulatory Authority should crack the whip on those organisations which were reneging on their statutory obligation to pay the pension contribution of their staff.
Responding to the issue of poor communication between the company and its members, she said her outfit was developing an online platform to facilitate communication between the company and its members.
NTHC Trustees Limited, a wholly-owned subsidiary of National Trust Holding Company, manages Second Term Tier mandatory scheme which provides protection and retirement benefits to members of the scheme covered under the Acct 766
By Kingsley Asare