The Fair Wages and Salaries Commission (FWSC) has proposed introducing an hourly wage system across all sectors to enhance earnings for casual workers and promote fairer compensation practices.
According to Dr. George Smith-Graham, Acting CEO of FWSC, this approach could formalize informal work arrangements, increase disposable income for low-wage earners, and expand access to social protection. He believes that an hourly wage structure would allow casual workers to be better compensated for their time and help reduce income inequalities in the labor market.
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The proposal aims to bring greater transparency to wage calculations for both employers and employees. Meanwhile, the National Pensions Regulatory Authority (NPRA) has highlighted existing provisions that allow permanently unemployed individuals aged 50 and above to access their Tier-2 pension funds, subject to verification and approval.
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NPRA CEO Chris Boadi-Mensah has also called for a review of Ghana's retirement age, proposing an increase from 60 to 65 years to ensure the long-term sustainability of the pension system.
The NPRA CEO warned that without reforms, the current pension system could face financial instability and misuse. These proposals are part of ongoing efforts to improve labor market outcomes and ensure the financial security of workers in Ghana.
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