The new charges are aimed at ensuring adequate funding for the regulation and oversight of pension funds in the country.

According to a public notice posted on the NPRA’s website, service providers administering funds of individual trustees will now have to pay GHC500 for renewal and registration fees, up from the GHC250 charged last year.

In contrast, the renewal of license and registration fees for corporate trustees, pension fund custodians, and pension fund managers have remained the same as last year, ranging from GHc3,000 to GHc5,000.

The application, licensing, and registration fees for service providers have also been maintained, with fees ranging from GHC2,220 to GHC5,550.

Furthermore, the registration fees for pension schemes, including master trust, employer, personal, or group personal schemes, have not changed and remain between GHC5,550 to GHC11,100.

The NPRA has stated that the new fee structure is necessary to ensure the sustainability of the pension industry and to continue providing effective regulation and oversight of pension funds in Ghana.

Service providers are encouraged to comply with the new charges to avoid any penalties or sanctions from the regulatory authority.