You can now lodge cash directly into Peoples Pension Ghana from the UK. The People’s Pension are now working with PiP iT in UK so people from Ghana living there can lodge cash into pensions for their family members living at home in Ghana.
This new and innovative method to make a payment is significantly cheaper than sending money home to save with total fees of 5% for all lodgements over £50 (5% plus 50p for lodgements under £50).
With international transfers costing up to 12%, using PiP iT means you can lodge an additional 7% in the pension.
The system is simple to use and is operated through Interpay Africa, our payment partners.
When you select Peoples Pension you will be given payment options. To lodge cash from the UK, select PiP iT. This will generate a bar code you can send to your phone or print out. Bring this bar code to any Post Office in the UK, they will scan it and you can pay over the counter.
In Ghana, the majority of workers are engaged in the informal sector, and are left out of the traditional pension systems.
What this means is that they are not able to secure an income after retirement and fall into poverty after their working life. This is what we at Peoples Pension Trust are determined to change.
People’s Pension Trust Ghana operates a pension fund that allows workers in the informal sector to save for their pension. They offer a pension product for which people can save daily, weekly or monthly with flexible deposits through existing community based groups and savings groups. They are also committed to ensuring that people are financially educated about saving for the long term. Essentially.