President Nana Addo Dankwa Akufo Addo has designated the Minister for Employment and Labour Relations, Ignatius Baffour Awuah as the minister responsible for pensions.

This implies that pensions and related services which hitherto were a finance ministry role will now be supervised by the Labour Minister.

The appointment which is in accordance with section 211 of the National Pensions Act 2008 (ACT 766) will see the minister steering the affairs of the National Pensions Regulatory Authority (NPRA) and the Social Security and National Insurance Trust (SSNIT) effective January 30, 2023.

Mr Baffour Awuah made this known when he appeared before the Public Accounts Committee on Wednesday, February 1.

The new ministerial appointment which takes immediate effect comes after the Minority warned that any new ministerial appointment will not be tolerated as the country embarks on a domestic debt restructuring to revive the ailing economy.