The African University College of Communications (AUCC), realising the need for extensive education on the new Pension Scheme, especially for Trustees, has established an Academy on its campus –The Pensions Academy. The Academy is going to run with technical support from AIDOO MENSAH & ASSOCIATES, Ghana’s premier pensions and benefits consulting firm, and FRONTLINE CAPITAL ADVISORS LTD, an investment advisory firm and pension fund management experts.
A new pensions law, the National Pensions Act, 2008 (Act 766) was enacted in December 2008, which among others, provides for the introduction of a contributory three-tier pension scheme and the establishment of a National Pensions Regulatory Authority (NPRA) to oversee the administration and management of registered pension schemes, and trustees of registered schemes.
The components of the three-tier pension scheme are to be managed under trust arrangements with the trustee having the overall responsibility to manage pension schemes. The Pensions Act (sections 143 & 144) and Pension Regulations, L.I.1990 (Regulation 7) therefore require employers to arrange for appointed trustees of pension schemes to have knowledge and understanding of their scheme, the law relating to pensions and trusts and the principles relating to funding and investment. The objective is to enable them to fulfill their roles effectively and efficiently.
It is important to note also that pension law and practice involve complex issues so it is essential for trustees and all others – company directors, HR managers, fund managers and custodians, etc. – involved with running pension arrangements to acquire sufficient training in order to stay up to speed with the latest developments.
The purpose of the AUCC Pensions Academy is to provide professional training for trustees of provident fund/occupational pension schemes and other stakeholders involved in the management of the schemes to enable them meet the statutory requirement and manage their schemes effectively. Both newly appointed trustees and veteran trustees who have not had formal training will benefit from the programme.
The Certificate in Pensions Management (CPM) is a six week course which is run on Saturdays only. It is a 24 hour credit programme meant to support busy executives working within the field of Pensions and those seeking to gain knowledge to work more effectively in the areas of Pensions Administration and Management.Executive Certificate in Pensions Management (ECPM)
The Executive Certificate in Pensions Management (ECPM) is a two to three-day intensive training course for Executives. It follows the CPM and meets the standards for the 24 credit hour coursesAdvanced Certificate in Pensions Management (ACPM)
The Advanced Certificate in Pensions Management builds on the knowledge gained at the CPM level. It discusses in greater detail, issues of risk and investment. It is a two day course and can be run over three weeks (Saturdays only).Trustee Training
This is an intensive three day training programme for Trustees as required by the Pensions Act and Regulations. The course outline would follow the NPRA approved outline.We support all this with retirement planning and other related training on request.
Daniel Aidoo Mensah is a seasoned Actuary and Pensions and Insurance Expert and currently the Managing Consultant of Aidoo Mensah and Associates. He is a former Acting Chief Executive of the National Pensions Regulatory Authority (NPRA), Project Consultant to the Pension Reform Implementation Committee and Member of the erstwhile Presidential Commission on Pensions. He was the lead architect of the new three-tier pensions scheme of Ghana.
Clifford Dankwa Mpare is a Chartered Financial Analyst (CFA) and Investment Expert with over 25 years private and public equity investment experience in the US, Canada and Africa. He is currently CEO of Frontline Capital Advisors. He was previously Managing Director of Piedmont Investment Partners in the US. He has also served as a consultant and ¬financial expert for USAID and the World Bank. He also serves as a member of the Board of the Infrastructure Fund.
Bernard Otabil is currently the CEO of Ghana News Agency. Prior to this, he was Dean of the AUCC Business School and Managing Director of Essoko Ltd. He has an interesting background as a Chartered Accountant, a Journalist and Lecturer.
Pastor Stephen E. Quarmis a Pensions Consultant with Aidoo Mensah & Associates, a pensions and benefits consulting firm. Prior to his current assignment, he worked with Tri-Star Actuarial & Management Consultants, Metropolitan Insurance Company and Cathays Investments Ltd.
Eudora Koranteng has over 30 years experience as a corporate lawyer having worked at the Ghana Stock Exchange and the Securities and Exchange Commission. She currently operates her own consultancy, providing legal and corporate governance as well as capital market related advisory services to corporate entities.
Victor Obeng is the Vice President of Research/Senior Analyst at Frontline Capital Advisors (FCA). Prior to joining FCA, Victor was a Corporate Advisor and Research Analyst at the Corporate Finance Department of SAS Finance Group. He has proven record in Corporate Finance and Evaluation. Victor obtained his MBA (Finance) from University of Liverpool, UK and an MSc. from University of Tromso, Norway.
Francis Edward Akoto is a Tax Expert with experience over several years in taxation, having specialized in tax assessments, debt management, tax adjustment as well as tax education. Mr. Akoto has taught on tax issues at a number of institutions, including Methodist University, Central University and the Centre for Business Studies.