People's Pension Trust (PPT), in partnership with MTN Mobile Money Fintech Limited, has launched FlexiPension. This new digital retail personal pension product aims to include millions of informal sector workers into Ghana's pension system.
This initiative responds to the low pension participation among informal sector workers. The product offers flexible and accessible retirement savings options. Previously, these workers were excluded from formal pension arrangements.
Ghana's informal sector employs 80% of the workforce, approximately 14.2 million individuals. Only 1.2 million informal sector workers are currently enrolled in pension schemes. This represents a mere 16% of the pension assets under management. FlexiPension seeks to close this substantial gap, addressing a critical social and economic challenge.
Issaka Ibrahim, CEO of People's Pension Trust, shared the motivation behind FlexiPension. He stated, "Every Ghanaian worker deserves access to retirement security, regardless of income level or employment status." The National Pensions Regulatory Authority (NPRA) granted formal approval for FlexiPension in June 2025. This followed a rigorous assessment process.
The product structure allows contributions to be automatically deducted from MTN Mobile Money wallets. These contributions are split equally between a savings account and an investment account. The NPRA CEO described this launch as a significant milestone for expanding pension coverage. This innovation meets workers' needs by aligning with their irregular incomes and mobile-first lives.
The savings portion can be accessed after six months. However, the investment component is preserved for long-term retirement wealth building. FlexiPension demands no minimums or maximums, allowing daily, weekly, or irregular savings. This flexibility makes retirement planning more accessible for everyday Ghanaian workers.
This development is crucial for Ghana's economic future and financial inclusion goals. The initiative could significantly boost pension penetration, particularly among market traders, artisans, and farmers. These groups form the backbone of the country's informal economy. FlexiPension represents a potentially transformative innovation. It can expand retirement security and build long-term financial resilience for millions.