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Developing Pension-backed mortgages, Myth or Reality – Opportunities, Challenges and the way forward

May 22, 2021
Developing Pension-backed mortgages, Myth or Reality – Opportunities, Challenges and the way forward

Enterprise Trustees Ltd, the leading private pension administration company in Ghana has held a consultative meeting with Stakeholders in the Mortgage Industry on pension-backed mortgages. The event which came on last Thursday in Accra was primarily to allow the National Pensions Regulatory Authority lead discussions aimed at interrogating the mortgage provisions in the Pensions Act with the ultimate aim of making pension-backed mortgage a reality for scheme members.

Mr. Fiifi Kwakye, the Board Chairman of Enterprise Trustees, welcoming invited guests indicated, “We are excited to once again lead an initiative that will ensure the reality of pension-backed mortgages for scheme members. This consultative session is to provide the National Pensions Regulatory Authority (NPRA) with the platform to engage closely with relevant stakeholders”.

The Chief Executive Officer of NPRA, Mr. Hayford Atta-Krufi underscored the importance of such a session which brought together Trustees, mortgage providers, real estate developers and employers. He assured workers they are committed to ensuring workers benefit fully from their pension contributions. Applauding Enterprise Trustees on the initiative, Mr. Ernest Amartey Vondee, the Director of Planning, Research, Monitoring and Evaluation at the NNPRA who did a presentation reiterated the need for collaboration among stakeholders to make Pension-backed mortgages a reality.

The General Manager of Enterprise Trustees, Mr. Joseph Ampofo, closing the session thanked guests for their active participation and reechoed the need for more collaboration. “We intend to submit a memoranda on discussions held here to the NPRA to help them shape the impending guidelines yet to be issued, to be more applicable to making Pension Backed Mortgages a reality and not a myth”.

Enterprise Trustees Limited is a subsidiary of Enterprise Group and ranked by 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. (Contact our call center on 0302634704 or email us at info.trustees@enterprisegroup.com.gh

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