History of the Chamber
The Chamber of Pensions, Ghana LBG was incorporated in the year 2015. The Chamber appointed its first Executive Secretary, Mrs. Clara Kasser-Tee in September 2018 when it commenced full operations.
The Promoters of the Chamber saw the need to have a professional business association for all licensed Corporate Trustees to lead formal engagement on issues of common interests. They were also convinced that achieving mutual co-operation between the institutions constitutes a necessary complement to the deepening of the Pensions Industry.
As an autonomous, non-governmental representative body, the Chamber is the central advocacy platform of the private pensions sector of Ghana.
The Promoters were also conscious of the role of Pensions in the promotion of economic development and as a tool for social intervention programs through the mobilization of long-term retirement savings.
The Chamber would like to mention Mr. Charles Osei-Akoto of Stallion Trust and Administration Limited, specifically, for his initiative and commitment to ensure the registration of the Chamber and assisting with the drafting of its first Constitution.
From its early beginnings, the Chamber envisaged the development of a close collaboration with the regulators, Government officials, service providers and allied institutions who deal with employees and contributors in the pensions operations.
- Joseph B. Ampofo - President Enterprise Trustees Ltd.
- Kofi Fynn - Member Petra Trust Company Ltd.
- Afriyie Oware - Member Axis Pension Trust Ltd.
- Victoria Armah - Member Pen Trust Ltd.
- Charles Osei-Akoto - Co-opted Stallion Trust & Administration Ltd.
Functions of the Chamber
The mission of the Chamber is achieved through the following operational functions:
- Lobbying and advice on policy directions, regulatory and legislative changes.
- Advise members on compliance to regulations and legislations.
- Conduct research, educate and train members on current trend on directives, policies and legislations.
- Advise on restructuring and securing pension funds, which are in distress.
- Advise members on their interactions with the regulator and government institutions.
- Arbitrate in dispute and litigation between pension schemes, trustees, contributors and regulators
- Ensure pension practitioners achieve best practice in the performance of their fiduciary and trustee duties.
- Express opinions and act as a pressure group on matters of interest to the whole industry.
To advice or recommend policy changes to build a solid pension industry where practitioners would have sustainable business; to operate in a more conducive environment whiles ensuring decent retirement for the Ghanaian worker as we impact on the society as a whole as well as making research a core part of these activities.
To bring retirement savings to every Ghanaian.
Leadership, Integrity, Innovation & Together (Unity) in purpose.
“Your life in RETIREMENT is our CONCERN!”
The Chamber operates with a constitution that sets out the operational structure.
The structure comprises of the General Assembly at Meetings, the Governing Council and Secretariat.
General Assembly of Members
The General Assembly of Members is the highest decision making body of the Chamber. Decisions that affects; the intent, alter the aims and objectives, change of name or the going concern of the Chamber can only be taken by the General Assembly. However, this must be a recommendation from the Governing Council to the General Assembly.
The General Assembly approves the recommendations of the GC by a simple majority or in some instances by two-third majority of members present.
The General Assembly is also responsible for the election of Councilors unto the Governing Council.
The General Assembly of Members is the only body that has the power to effect or approve any constitutional change.
The Governing Council
The Governing Council is the body responsible for formulating strategic plans, implementing strategic decisions and steering the strategic direction of the Chamber to achieve its strategic objectives and aims.
Members at a General Assembly elect the members of the Governing Council known as Councilors. The various categories of Members of the Chamber elect Councilors to represent their categories.
The GC has Standing Committees that assist it in delivering its mandate. The Standing Committees are composed with experienced staffs from the Member institutions of the Chamber.
The Secretariat is responsible for implementing the strategic decisions of the GC and administering the day-to-day activities of the Chamber.
The Head of the Secretariat is the Executive Secretary appointed by the GC with the requisite experience in fund management and pensions to steer the activities of the Chamber to achieve its strategic objectives.
The Executive Secretary is the contact person on behalf of the Chamber for enquiries and media engagements.
He has staff who work with him to achieve the goals of the Chamber.