Ghanaians advised to prioritise retirement planning

Professor Elijah Yendaw Advises Workers on Retirement Planning

Professor Elijah Yendaw is the Director General of the Management Development and Productivity Institute (MDPI). He advises Ghanaian workers to prepare for retirement by investing in their pensions.

He emphasized that early investment and planning lead to financial independence. Prof Yendaw spoke during a three-day training for Bui Power Authority staff in Accra. The MDPI organized this program with the Authority to help retired staff live dignified lives.

He noted that investment is crucial for meeting retirees' needs. The training aims to help staff adjust positively to retirement life. It will empower them to manage finances, health, and social life effectively.

"Life expectancy is increasing," he said. The Ghana Statistical Service reports people can now live up to 80 years. To enjoy a decent life after work, saving for retirement is essential.

Prof Yendaw encouraged workers to invest in treasury bills, bonds, and other schemes for better returns. He acknowledged that economic challenges might affect investments but urged prudent investing with financial consultants' help.

He also advised workers to maintain a healthy lifestyle. This can prevent illnesses that lead to high medical bills during retirement.

Participants learned about various topics including managing retirement, understanding the new pension scheme, and preparing wills.