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Enterprise Trustees, stakeholders deliberate on pension-backed mortgages

Author: Daily Graphic
Some management executives of Enterprise Trustees and their stakeholders after the meeting in Accra
Some management executives of Enterprise Trustees and their stakeholders after the meeting in Accra

Enterprise Trustees Ltd has held a consultative meeting with stakeholders in the mortgage industry on pension-backed mortgages.

The event, which came off last Thursday in Accra, allowed the National Pensions Regulatory Authority (NPRA) to lead discussions which were aimed at interrogating the mortgage provisions in the Pensions Act with the ultimate aim of making pension-backed mortgage a reality for scheme members.

The Board Chairman of Enterprise Trustees, Mr Fiifi Kwakye, said the meeting was to start discussions that would ensure the reality of pension-backed mortgages for scheme members.

“This consultative session is to provide the NPRA with the platform to engage closely with relevant stakeholders,” he stated.

The Chief Executive Officer of the NPRA, Mr Hayford Atta-Krufi, for his part, underscored the importance of such a session which brought together trustees, mortgage providers, real estate developers and employers.

He assured workers of the authority’s commitment to ensuring that workers benefitted fully from their pension contributions.

Applauding Enterprise Trustees on the initiative, the Director of Planning, Research, Monitoring and Evaluation at the NPRA, Mr Ernest Amartey Vondee, reiterated the need for collaboration among stakeholders to make pension-backed mortgages a reality.

The General Manager of Enterprise Trustees, Mr Joseph Ampofo, thanked guests for their active participation and reechoed the need for more collaboration.

“We intend to submit memoranda on discussions held here to the NPRA to help them shape the forthcoming guidelines yet to be issued, to be more applicable to making pension backed-mortgages a reality and not a myth,” he noted.

About Enterprise Trustees

Enterprise Trustees Limited is a subsidiary of the Enterprise Group and ranked by the NPRA as the leading private pension’s management company in Ghana.

In addition to providing retirement solutions to companies and employers, Enterprise has a personal pension scheme for individuals, including self-employed individuals seeking to top-up their retirement savings.