Enterprise Information of Thursday, 15 August 2019
The Nationwide Pensions Regulatory Authority is implementing a Sanctions Regime to implement compliance and instil self-discipline within the pensions trade. Because of this, the authority has been given the mandate by the Lawyer Normal to prosecute defaulting employers; 13 of which have been discovered culpable.
This revelation was made by the Employment and Labour Minister, Ignatius Baffour Awuah on Thursday whereas addressing the Press on developments in his sector.
He lamented the rising price of employers and workers who under-declare their salaries so as to pay much less. He additionally noticed that some employers have been additionally routine defaulters including that 13 of such had been arraigned to be prosecuted earlier than the courtroom.
Mr Baffour Awuah indicated that in keeping with the statistics there are extra workers on Tier 1 greater than Tier 2 asserting that there was the chance employers have been paying extra of the previous than the latter though each are obligatory.
He cautioned and appealed to all employers to the pensions of their workers so as to keep away from the sanctions and prosecutions thereof.
“…sarcastically the variety of workers on the Tier 1 that’s 1,533,942 are greater than these on the Tier 2 although each are obligatory. So the which means is that it’s doable some employers pay Tier 1 of their employee’s contribution however don’t pay the Tier 2.
It is because of this and different pension-related offences that NPRA has secured prosecutorial powers from the Lawyer Normal to prosecute offending employers.
Presently, as of June 2019, 13 defaulting employers have been earmarked for prosecution. Dockets are being ready to take them to courtroom.
I, subsequently, need to use this chance to enchantment to all employers to pay the contributions of their workers well timed to keep away from prosecution.” Mr. Baffour Awuah famous.