Occupational And Personal Pension Schemes (General) Regulations, 2011 (LI 1990)
Regulation 29
(1) An approved trustee of a registered scheme shall
(a) appoint a pension fund manager to manage the investment of the funds of the scheme; and
(b) ensure that the contract for the appointment of the pension fund manager is in conformity with the First Schedule.
(2) A person shall not be appointed as a pension fund manager unless that person
(a) is a company incorporated in Ghana; and is licensed by the Securities and Exchange Commission as an investment adviser under the Securities Industry Act, 1993 (PNDCL 333);
(b) has a paid up stated capital of not less than GH¢200,000 and net assets of at least the same amount or an amount that may be determined by the Authority from time to time; and
(c) meets any additional requirement that may be determined by the Authority.
(3) The trustee shall in appointing a pension fund manager ensure that
(a) the selection and appointment of the pension fund manager is recorded in writing;
(b) there is no conflict of interest between the pension fund manager and other persons who have a contractual relationship with the trustee, or any other trustee, that could prejudice the interests of scheme members;
(c) the pension fund manager has the resources including human resources necessary to carry on business as a pension fund manager; and
(d) the pension fund manager has in place adequate controls and safeguards with respect to the investment of funds of the scheme to project the interests of scheme members.
(4) A trustee shall not appoint a person as a pension fund manager in respect of the scheme unless the person is independent of
(a) the trustee; and
(b) the custodian of the scheme assets.
Procedure to Follow
Not Avaiable
Responsible Institution
National Pensions Regulatory Authority
SU Towers Accra
- Email: info@npra.gov.gh
- Website: npra.gov.gh
- GPS:
- Telephone: 0302968692
Relevant Forms to Download
Not Available
Online System
Link Unavailable
Fees/ charges
Not Avaiable
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