The Ministry of Labour, Jobs and Employment has called stronger pension management to secure the financial future of nurses, doctors, midwives, pharmacists and other healthcare professionals after years of service. The call was made by the Ministry’s Research Director, Mr Shadrack Mensah, at the 4th Annual General Meeting of the Health Sector Occupational Pension Scheme (HISSOPS) in Kumasi.
He stressed that adequate retirement benefits and broader social protection must be guaranteed for health workers, and that pension assets must be prudently managed to deliver sustainable returns.
He further told members and trustees that the growth of Ghana’s pension industry presents an important opportunity, but the true measure of success lies in how well the assets are managed and whether workers receive the benefits they are entitled to.
“Strong pension management is essential to securing the financial future of health workers and ensuring they enjoy the retirement benefits they deserve after years of dedicated service.”
Mr Shadrack Mensah, Director of Research at the Ministry of Labour, Jobs and Employment
Pension assets more than double
Citing the National Pension Regulatory Authority’s (NPRA) 2025 annual report, Mr Mensah stated that pension assets under management rose from GH¢82.9 billion in 2024 to GH¢211.11 billion in 2025, describing the figures as the accumulated savings and future expectations of Ghanaian workers.
However, he cautioned, that the size of the asset base is not, by itself, a measure of success. What matters, he said, is whether the funds are prudently managed, generate sustainable returns and provide the benefits workers are due.
Principles for sound management
He also outlined the conditions that must underpin the management of pension funds. Investment decisions, he said, must be guided by professional expertise, appropriate diversification, sound risk management and strict compliance with regulatory requirements.
Good governance, he added, must ensure transparency, accountability, accurate reporting and effective oversight. The interests of contributors and pensioners must remain paramount at all times.
He acknowledged that pension funds can support productive investment and national development. However, such opportunities must never compromise the security of workers’ retirement savings.
“Development objectives and pension protection must reinforce one another, not compete.”
Mr Shadrack Mensah, Director of Research at the Ministry of Labour, Jobs and Employment
Protecting health workers
Turning to the health sector, Mr Mensah noted that the Ministry was particularly concerned about the retirement security of nurses, midwives, doctors, pharmacists, allied health professionals and other sector employees who have dedicated their lives to protecting the health of the population.
He noted that these professionals often work under demanding conditions and sacrifice personal comfort to care for patients and communities. Their welfare, he said, must therefore extend beyond salaries and conditions of service to include occupational safety, career progression, social protection and retirement security.
HISSOPS urged to Strengthen transparency
Mr Mensah further commended HISSOPS for its role in safeguarding the long-term financial interests of health sector workers. He encouraged the Board of Trustees and management to continue strengthening member education, transparency, prudent investment and efficient benefit administration.
“A health worker who has served diligently for a decade should not face uncertainty or indignity upon retirement.”
Mr Shadrack Mensah, Director of Research at the Ministry of Labour, Jobs and Employment
He indicated that these areas are central to building and sustaining the confidence of contributors in the scheme, particularly as the pension industry continues to expand.
With pension assets now exceeding GH¢211 billion, attention will remain on how trustees and fund managers apply the principles of diversification, risk management and regulatory compliance outlined by the Ministry.
How HISSOPS responds on member education and transparency will also be closely followed by contributors across the health sector.
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