FlexiPension, a digital retail personal pension product, was introduced by People’s Pension Trust (PPT) in collaboration with MTN Mobile Money Fintech Limited with the goal of providing retirement coverage to millions of Ghanaians employed in the unorganised sector.
Providing accessible retirement security for employees who are not protected by employer-sponsored pension plans is one of Ghana’s long-standing social and economic concerns. The launch, which took place in Accra as part of PPT’s 10th anniversary festivities, was a major step in that direction.
Issaka Ibrahim, the CEO of People’s Pension Trust, emphasised the importance of addressing one of Ghana’s most urgent social and economic issues during his speech.
“We gather to take another significant step toward solving one of Ghana’s greatest social and economic challenges ensuring that every working Ghanaian, regardless of occupation or income level, has a realistic pathway to retirement security,” he said.
He said that FlexiPension eliminates many of the obstacles that have traditionally kept workers in the unorganised sector from taking part in pension plans by enabling users to open and manage a pension account using their mobile phones.
Through their MTN Mobile Money wallets, members can contribute any amount at any time under the National Pensions Regulatory Authority’s (NPRA) Tier 3 voluntary pension system.
Members can access a portion of their savings after six months while accumulating long-term retirement benefits because contributions are divided equally between an investment account and a savings account.
“Over the past decade, we have grown from a bold idea into a trusted pension institution,” Mr. Ibrahim stated. We have pioneered micro-pensions, embraced technology, expanded access and continuously challenged ourselves to find better ways of serving Ghanaian workers.”
He added, “There could be no more fitting way to celebrate this milestone than by launching a solution designed to bring millions more people into the pension ecosystem.”
Mr. Ibrahim stated that many workers in Ghana, particularly those in the informal sector, are unaware that they can open a pension account on their phones in minutes, save at their own pace, access a portion of their savings for emergencies after six months, and build a retirement fund that will support them when they are no longer able to work.
According to him, the launch would change that reality by making retirement planning more accessible, flexible, and relevant to the requirements of regular Ghanaians.
He also underlined that the initiative’s value lies not in the technology or innovation behind it, but in its ability to expand pension coverage and ensuring that every worker has the opportunity to protect their financial future.
He praised the collaboration with MTN Mobile Money Fintech Limited, pointing out that the business has assisted in transforming an ambitious concept into an affordable retirement option for Ghanaians, going beyond simply offering a distribution platform.
“Our partners at MTN Mobile Money Fintech Limited not only provided us with a distribution channel but have also helped transform an ambitious idea into an accessible reality,” he stated.
He stated that creating a fully digital pension system necessitated the smooth integration of technology, operations, customer experience, regulatory compliance, and disciplined execution—all of which the team has done exceptionally well.
“Building a fully digital pension solution requires technology, compliance, operations, customer experience, and relentless execution. You have delivered all of it with excellence,” he explained.
Speaking at the launch, Chris Boadi-Mensah, the Chief Executive Officer (CEO) of the National Pensions Regulatory Authority (NPRA), stated that strong growth, low inflation, and a stable cedi are driving Ghana’s economy toward recovery. However, he emphasised that these gains must be shared by the majority of the population.
He pointed out that “Look at the markers of our economic resilience: real GDP grew by 6 percent in 2025 and the IMF projects another 4.8 percent growth this year. Headline inflation has plummeted to 3.3 percent.”
“Our cedi is stabilising and our reserves stand strong at over 5.7 months of import cover. Ghana is undeniably on a recovery path. But true economic growth is incomplete if it does not reach the majority of our people,” he continued.
He pointed out that although 14.2 million Ghanaians, or 80% of the workforce, labour in the unorganised sector, they only contribute 27% of the nation’s GDP because they have little access to formal institutions that boost productivity, social security, and tools.
He continued by saying that despite their vital role in propelling the economy, many of these people have for far too long been unable to access pension coverage.
Despite the fact that Ghana’s pension assets under administration have surpassed GH¢100 billion, he pointed out that just 1.2 million workers in the informal sector—roughly 16% of the target population—are registered in pension plans.
“Let us speak plainly. Our pension assets under management have crossed an historic GH¢100billion threshold. That is a testament to the robust regulatory system built by the NPRA. Yet out of that massive fund, only 1.2 million informal sector workers are enrolled. That is barely 16 percent. This is not a minor gap, it is a structural failure we are duty-bound to correct,” he asserted.
He revealed that after People’s Pension Trust (PPT) submitted this product to the NPRA, it was thoroughly reviewed by the authority before receiving a formal “No Objection” in June 2025.
He states that the initiative’s clearance was granted because it serves a larger national development goal and goes beyond a commercial offering, proving that social impact and corporate success can coexist.
According to him, digital innovation is regulation’s greatest ally rather than a danger.
Although pension coverage in the informal sector increased from 13.2 percent in 2024 to 16.7 percent in 2025, he pointed out that there are still large gaps, and the Pensions Digital Ecosystem (PDE) will assist continued efforts to close them.
“Our efforts are already resonating beyond our borders. Ghana has secured hosting rights for the 2026 African Pension Supervisors Association Conference and the NPRA has been appointed to the International Organisation of Pension Supervisors’s Executive Committee. We are no longer just building a national system; we are leading a continental conversation,” stated Mr. Boadi-Mensah.
He praised People’s Pension Trust for adapting its product to the needs of low-wage workers in the unorganised sector who mostly rely on mobile money for everyday transactions.
Source: newsthemegh.com