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AUCC launches Ghana’s premier Pensions Academy

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The authorities of African University College of Communications (AUCC), on Tuesday launched the AUCC Pensions Academy, Ghana’s premier specialist pensions training institute in Accra.

It would provide professional training for trustees of provident fund/occupational pension schemes and other stakeholders involved in the management of schemes to enable them to meet the statutory requirement and manage their schemes effectively.

In addition, it would provide an opportunity for all people to learn and fully understand the nature and function of retirement plans.

The academy is being hosted by the AUCC with technical support from Aidoo Mensah and Associates, Ghana’s premier pensions and benefits consulting firm and Frontline Capital Advisers, an investment advisory firm and pension fund management experts.

It becomes operational from September 2011 and opened to trustees, fund managers, beneficiaries, journalists, social commentators, public servants, legislators, private operators and all categories of workers.

Launching the academy, Mr Kojo Yankah, President of AUCC, stressed the need for continued educational platform to provide information, education and communication campaigns on pensions.

He explained that the platform would help erase the ignorance and confusion associated with pensions in the country.

“The platform would help produce more communicators and administrators on the pension system to fill the airwaves and newspaper columns,” he added.

Mr Yankah said the academy would not only focus on pensions and trusts but on basic principles relating to pension administration, investment and pension scheme funding.

He urged all Ghanaians especially pension administrators, investors and funders in Africa to take advantage of the opportunity for thorough education to become better communicators and managers.

Mr Daniel Aidoo Mensah, Managing Consultant and Chief Executive Officer of Aidoo Mensah and Associates said the academy would offer full spectrum of training courses from introductory programmes for entry level trustees, those who want to enhance their existing knowledge up to advanced courses for individuals with previous training and experience in managing pensions.

However, he noted that in the meantime the academy would organise series of seminars to educate identifiable groups on the new pension law, its regulations, operations and offer diploma courses in Pension Management.

“Understanding pension is vital to anyone who entrusted into taking care of other people’s financial security and must not be underestimated,” he added.

Mr Aidoo Mensah therefore encouraged well meaning institutions to offer pension training programmes not only to trustees but all stakeholders dealing with pension issues to learn and fully understand the functions of pension schemes to ensure retirement income security.

Mr Kwame Asante, Board Chairman, National Pensions Regulatory Authority stated that the main objective of the academy was to understand the pension scheme, minimise poverty in old age, and enlighten the people on pension regulatory issues.

He called on students at the academy to see it as a stepping stone in understanding better issues involved in pension and pension administration.

Source: GNA

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