The National Pensions Regulatory Authority (NPRA) has responded to allegations raised by New Patriotic Party (NPP) Member of Parliament (MP) for Old Tafo Constituency Vincent Ekow Assafuah at a press conference on Thursday, April 16.
Key among the allegations was the alleged doubling of salary by Chief Executive Officer Chris Boadi-Mensah without board approval.
“Under what legal authority did Mr Chris Boadi-Mensah double his salary without board approval?” the Minority MP asked, insisting that the absence of a functioning board at the time raises “grave concerns about the integrity of internal controls and oversight mechanisms”.
But in a swift response issued on Thursday night, NPRA said that claim is “entirely false and unsubstantiated”.
The Authority also described it as “completely untrue”.
“The claim that Mr. Chris Boadi-Mensah doubled his salary upon assuming office is completely untrue,” the response issued by the Corporate Affairs Directorate said.
“The last Board, under the immediate past government approved a 25% salary increment in September 2024, effective 1st January 2025 before his assumption of office. This approval happened under the previous management. It was based on this new salary structure that the exit packages of the former executives were paid.
“Therefore, the claim by Mr. Assafuah that Mr. Boadi-Mensah doubled his salary upon the assumption of office is entirely false and unsubstantiated. A little bit of due diligence on the part of Mr. Assafuah would have established this fact.”
The Authority also responded to allegations of misappropriation of pension funds.
“The NPRA refutes claims that it is the unaccountable custodian of pension funds.
“The heading of Mr. Assafuah’s statement which reads ‘A Call For Prudence And Accountability In The Management of Ghana’s Pension Funds’ coupled with baseless and vile innuendo’s made on Asempa FM on the afternoon of Thursday April 16, 2026 to the effect that the NPRA mismanages and misappropriates pension funds is false and misleading.”
It challenged the lawmaker to provide evidence on the claim that GH¢15 million was spent on seven Land Cruisers, nothing that there are only two Land Cruiser vehicles bought in 2023 and 2026.