Enterprise Trustees Limited has enhanced its personal pension offerings into three targeted products designed to boost participation, particularly among underserved segments of the Ghanaian population.
The three products are the Sunnyside Plan, which targets younger workers between the ages of 18 and 45 with a growth-oriented investment strategy; the Asset Nnapa Plan, which is aimed at informal sector workers and individuals with a lower risk appetite, and the Good Life Plan, which is designed for retirees and allows them to receive their pension savings in instalments rather than as a lump sum.
Speaking at the launch in Accra on Monday, the Managing Director of Enterprise Trustees Limited, Joseph Ampofo, said the changes were informed by direct engagement with potential contributors across the country.
He explained that uptake of the company’s pension products since their introduction in 2016 had been modest, attributing the situation to limited public awareness and a lack of alignment with the needs of different groups.
“Following a series of market consultations, we found it necessary to restructure the products into three targeted plans, each designed to address the specific needs of different demographics,” he said.
Mr Ampofo added that the company had introduced additional incentives to make the schemes more attractive, including life insurance cover and a hospitalisation package.
He said these benefits were introduced in direct response to concerns raised by potential clients about the absence of immediate value in long-term savings products.
He noted that contributions remain flexible, starting from as little as GH¢50, with payments facilitated through mobile money platforms to improve accessibility, especially for workers in the informal sector.
Innovation
The Board Chairman, Mr Fiifi Kwakye, described the rebranding as a reflection of the organisation’s commitment to innovation and its responsiveness to market needs.
“At the board level, our responsibility is to provide strategic oversight and ensure that the organisation remains resilient, forward-looking and responsive to the evolving needs of the market.
This rebrand delivers more relevant solutions and presents a structured way for individuals to pursue their financial goals with confidence,” he stated.
The Director of Standards and Compliance at the National Pensions Regulatory Authority (NPRA), Ernest Acquah, commended the initiative and described the three products as innovative.
He urged Ghanaians to embrace personal pension schemes, noting that increased participation in tier-three pensions could significantly improve retirement outcomes and reduce dependency in old age.
Source:
www.graphic.com.gh