The National Pensions Regulatory Authority (NPRA) has strongly denied allegations by the Minority in Parliament that its Chief Executive Officer, Chris Boadi-Mensah, increased his own salary after taking office.

The accusation was made by the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, during a press briefing on Thursday, April 16. He alleged that the CEO adjusted his remuneration shortly after assuming office in February 2025, at a time when the NPRA Board had not yet been formed.

In a swift rebuttal, the Authority issued a statement rejecting the claim and providing clarification on the circumstances surrounding the CEO’s salary.

According to the NPRA, the assertions are misleading and do not accurately reflect decisions taken before the current leadership assumed office. It explained that the salary adjustment in question had already been approved prior to Mr Boadi-Mensah’s appointment.

The Authority indicated that a 25 percent salary increase was sanctioned in September 2024, with implementation scheduled to begin on January 1, 2025—before the current CEO took up his role.

Reaffirming its position, the NPRA maintained that the claim that Mr Boadi-Mensah doubled his salary is entirely false. It stressed that the existing salary structure stems from decisions made by the previous Board and management.

The Authority added that the approved pay framework also formed the basis for calculating the exit packages of former executives.

NPRA further suggested that the allegation may have arisen from a misinterpretation or lack of proper verification of the facts regarding the approved remuneration system.