People’s Pension Trust Collaborates with Women-Based Groups Under the Scaling Gender-Focused Financial Resilience Program

People’s Pension Trust (PPT) under the Scaling Gender-Focused Financial Resilience SGFR program has collaborated with six women-based organizations to increase financial literacy and sensitization on the benefits of long-term savings. The program, a partnership between PPT and the Swiss Capacity Building Facility (SCBF), launched in March 2022, will serve as an essential accelerator for women in the informal sector to be further immersed in financial literacy.

The SGFR program supports informal, marginalized, and excluded female workers and entrepreneurs to secure their future through micro-pensions. Organizations under this partnership include WESEDNET, a group focused on driving economic empowerment, protection, and the promotion of decent work for women in the informal sector. The others are NOORSAC and SONTAABA, pro-marginalized and policy-influencing organizational groups working for social transformation and enhanced living conditions for women, youth, children, and excluded groups.

PPT, since its incorporation, has been established as the go-to pension organization for workers in the informal sector, offering flexible and convenient pension solutions for all. Under these partnerships, PPT will drive financial inclusion and respond to customers’ old age income security needs by widening access to innovative financial services like pensions to reach underserved communities. Currently, over 300 women have signed up to secure their retirement income under the SGFR program, thus taking a first step towards reaching their goal: securing their retirement income for a financially liberating future.

“Our business model is based on addressing the major factors for their exclusion by developing innovative, flexible, and digitally driven pension products to improve accessibility even to no-internet areas. From a commercial perspective, women are a critical demographic that tends to outperform their male peers on contributions and savings, however, they represent a lower percentage of our overall client base,” said Saqib Nazir, Chief Executive Officer, PPT Ghana. “This partnership with SBCF will allow PPT to better reach women through the development of gender-focused technology solutions and partnerships with a more inclusive approach to reaching women; from a positioning and financial literacy perspective.”   

This collaboration is also in alignment with Sustainable Development Goals 1, 5, and 8 of ensuring No Poverty, Gender Equality and Women’s Empowerment and Decent Work, and Economic Growth for all.