The next National Democratic Congress (NDC) Government has announced to introduce a new Pension Scheme for organised groups in the informal sector, which includes Beauticians and Hairdressers of the Ghanaian economy.
Others targeted by the Party in its manifesto are Cocoa and Cashew Farmers, Driver Unions such as GPRTU, PROTOA, and Co-operatives.
The rest are Ghana Union of Traders Association, Dressmakers and Tailors Associations, Garages Associations, Artisans Association of Ghana and Farmers and Fishermen Associations.
The Party says it will contribute a percentage on behalf of any group that participates in the new informal sector scheme.
The opposition Party which lost 2016 Presidential seat after serving eight years said the Insurance industry has an important role in the economic growth of a nation.
It said one of its main contributions is in facilitating long-term resources as it offers potential avenues to manage and mitigate risk, which increases the long-term investment potential of an economy.
The NDC said it shall adopt a Risk-Based Minimum Capital approach for the industry whereby minimum capital will be linked to the risks an insurance company carries, instead of the current fixed minimum capital regime.
Source: Mybrytfmonline/Kofi Atakora