Professor Elijah Yendaw, the Director General, Management Development and Productivity Institute (MDPI), a sub-vented agency under the Ministry of Employment, has advised Ghanaian workers to prepare adequately for retirement by investing towards their pensions.
He said prioritising investment and retirement planning at an early stage helped the worker to build a strong foundation for financial independence.
Prof Yendaw gave the advice during a three-day pre-retirement and pension planning training for staff of the Bui Power Authority in Accra on Monday.
The programme was organised and facilitated by the MDPI, in collaboration with the Authority, to ensure that retired staff lived dignified lives.
He said investment was very important in addressing critical needs of a retiree and the training would help the staff to adjust favourably to life during retirement.
The training would empower them to plan their finances, health issues and social life in order not to become disillusioned after pension.
“Life expectancy globally is increasing; the Ghana Statistical Service reveals that people can now live as old as 80 years. Longevity has improved, and if you really want to live a decent life after your working life, it is important to save something towards your retirement,” he said.
Prof Yendaw urged workers to explore investing in treasury bills, bonds, and other viable schemes for better returns.
He said even though economic challenges may affect the gains of investment, there was the need to invest prudently with the help of financial consultants.
He implored workers to check their lifestyle and eat well to avoid contracting illnesses that could result in huge medical bills during retirement.
The participants were taken through; Preparation and Managing Retirement, the New Pension Scheme, Managing Social Life and Health, and Preparing and Managing a Will, among other topics.
Source: GNA
The post Ghanaians advised to prioritise retirement planning appeared first on Ghana Business News.
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