The National Pensions Regulatory Authority has disclosed that it has taken legal action against more than 100 employers for failing to pay workers’ pension contributions, as it ramps up efforts to safeguard retirement savings.

According to the authority it has retrieved over GH¢27 billion from non-compliant employers and has cautioned that stricter penalties will be enforced going forward.

Addressing a press briefing in Accra, Deputy Chief Executive Officer Victor Azumah revealed that total pension assets under management have now surpassed GH¢100 billion.

Despite this progress, he raised concerns about the limited involvement of the informal sector, noting that contributions from that segment remain low. Data indicates that the sector has contributed GH¢1.2 billion, accounting for just 16 percent of the total.

The NPRA also pointed to ongoing compliance challenges among some private sector employers, highlighting cases where deductions are made from workers’ salaries but not forwarded to the appropriate schemes.

Mr Azumah said the Authority has intensified monitoring and enforcement measures in recent years to address the issue.

Looking ahead, the NPRA is working on new frameworks to broaden investment options for pension funds and is also engaging government over outstanding obligations to the Social Security and National Insurance Trust.

Additionally, the Authority is reassessing its stance on offshore investment of pension funds, with indications that a two-year restriction introduced to stabilise the cedi could soon be reviewed.