President John Dramani Mahama has announced a comprehensive review of Ghana’s tiered pension system, citing persistent concerns from retirees over inadequate payouts.

Speaking at the 2026 May Day celebration in Koforidua, the President acknowledged that reforms introduced under the National Pensions Act, 2008 (Act 766), have not fully addressed the financial challenges facing pensioners.

“Many years after the introduction of the tiered pension structure, many workers still complain of inadequate pensions,” he said.

He explained that the review would be followed by broad consultations with organised labour and key stakeholders before any changes are implemented.

20,000 Jobs Approved for Teachers and Nurses

On employment, President Mahama announced that government has approved the recruitment of 20,000 trained teachers and nurses who are currently unemployed.

In addition, he revealed plans to recruit 40,000 personnel into the security services, at a rate of 10,000 annually between 2025 and 2028.

Akosombo Dam Fully Restored

The President also confirmed the full restoration of operations at the Akosombo Hydroelectric Dam, following a recent fire outbreak that affected the facility’s switchyard control room.

All six turbines are now operational, thanks to the efforts of engineers from GRIDCo and the Volta River Authority, who successfully bypassed the damaged system to restore power generation.

President Mahama noted that he personally visited the facility a day earlier to assess the extent of damage and ongoing recovery efforts.

Push for Local Cocoa Processing

On agriculture, the President announced a target to process at least 50 percent of Ghana’s cocoa locally by next year, in a move aimed at reducing reliance on raw bean exports.

He said government would support agro-processing hubs to create jobs and boost rural economies.

He also disclosed plans to incorporate the Western Rail Line into the government’s “Big Push” infrastructure programme to improve the transportation of cocoa, bauxite and manganese to the ports.

State-Owned Enterprises Recovering

President Mahama further indicated that several struggling state-owned enterprises are showing signs of recovery.

He cited the Tema Oil Refinery, which has resumed operations, and the recapitalisation of the Agricultural Development Bank and the National Investment Bank. He added that the Tema Shipyard is also on a path to recovery.

Stronger Workplace Safety Measures

On labour conditions, the President announced intensified factory inspections and the rollout of a digital monitoring tool—the National Workplace Compliance and Safety Management System—to enforce employer compliance.

He also highlighted the recently introduced free primary healthcare programme, urging workers to prioritise regular health screenings.

Commitment to Workers’ Welfare

President Mahama concluded by commending the Trade Union Congress for maintaining industrial harmony and reaffirmed his administration’s commitment to ensuring that economic growth translates into improved living conditions for workers.

“Growth must filter down to the pockets of the Ghanaian worker,” he said.