- Instead of scrapping the E-Levy, Franklin Cudjoe suggests turning it into a universal pension scheme.
- Every adult Ghanaian, especially informal workers, would be covered under the new savings system.
- The scheme will have two sub-accounts—one for retirement and another for flexible savings.
- With projected E-Levy contributions, Ghana could accumulate GHS 170 billion in pension assets in 15 years.
- The fund could help finance cocoa purchases and reduce reliance on external borrowing.
- Unlike traditional pensions, this scheme will invest in private-sector growth and national projects.
- A public-private partnership will ensure transparency, accountability, and efficient fund management.
- Contributors can track their savings in real-time through mobile apps and USSD.
- Strategic investments will drive job creation, boost agro-processing, and enhance productivity.
- Cudjoe hints at SETfund in the next edition—a people-powered investment model for national development.
In his view, if implemented, this proposal could turn a controversial tax into a powerful tool for financial security, economic growth, and national development.
