The National Pensions Regulatory Authority (NPRA) has rejected allegations of mismanagement and lack of accountability in the administration of Ghana’s pension funds, describing the claims as “false and misleading.”
In a press release issued on April 16, 2026, the Authority responded to statements made by Vincent Assafuah, Member of Parliament for Old Tafo insisting that it does not directly handle pension funds. “The NPRA refutes claims that it is the unaccountable custodian of pension funds,” the statement said.
Clarifying its legal mandate, the Authority explained that its role is strictly regulatory under the National Pensions Act. “The NPRA does not hold, manage, or disburse pension funds. Its object is to regulate and monitor the operation of the three-tier pension scheme,” it stated.
The NPRA also highlighted enforcement actions taken to protect contributors, including prosecuting defaulting employers and recovering unpaid contributions. “We have undertaken training of prosecutors and enforcement actions to safeguard workers’ pensions,” the Authority noted.
Addressing claims about the salary of its Chief Executive Officer, Chris Boadi-Mensah, the Authority dismissed suggestions of impropriety. “The claim that Mr. Boadi-Mensah doubled his salary upon assuming office is completely untrue,” it said, adding that a 25% increment had been approved before his appointment.
On the controversial head office project, the NPRA clarified that the building remains under construction and that no funds had been improperly sourced. “The allegation that GHS 700 million has been borrowed on the back of pension contributors… is completely false,” the statement emphasised.
The Authority further defended its engagement of pension expert Kofi Anokye, describing the decision as both lawful and necessary. “The engagement was done in full compliance with procurement laws and is aimed at expanding pension coverage, particularly in the informal sector,” it explained.
Responding to claims about vehicle procurement, the NPRA challenged its accuser to provide evidence. “The Authority has not procured seven Land Cruisers… we challenge Mr. Assafuah to provide verifiable evidence,” it stated, adding that only two vehicles had been acquired.
The NPRA also clarified issues surrounding a board training programme, noting that it was more extensive than alleged. “The programme is a six-month training combining virtual and in-person sessions, not a two-week programme,” it said.
Reaffirming its commitment to transparency and accountability, the Authority concluded: “The allegations made against the NPRA and its Chief Executive Officer are unfounded and not supported by facts. We remain steadfast in upholding prudence and accountability in Ghana’s pension industry.”
