A senior official at Ecobank EDC, Mr Bosman Ampadu, has emphasised the importance of sound financial preparation for retirement, stating that life is a journey with responsibilities at every stage.
Quoting Proverbs 20:29, he illustrated the phases of life: “At age 25, you are earning; at 35, you are earning to provide for your retirement; and at 60, you stop living at work and start working at living.”
Speaking at the 2025 Seminar for Ministers and Wives who will retire by 2035 at the Pentecost Convention Centre, Gomoa Fetteh, on Thursday, October 16, 2025, Mr Ampadu urged ministers to reflect deeply on the question: “How can I live my retirement?”
Drawing on statistics, he revealed that 99% of pensioners receive below GHS 5,000, stressing that without deliberate planning, retirement could become financially burdensome due to mounting bills and medical costs.
Mr Ampadu encouraged the participants to take charge of their pension planning early, saying, “Your SSNIT pension alone cannot sustain you.”
He advised participants to build income-generating assets, avoid hasty spending of lump sums, and invest prudently in money market and fixed-income instruments.
“Pension money is licked, not swallowed,” he cautioned, emphasising the importance of consistent savings, wise spending, and diversified investments.
He concluded presentation with practical wisdom for an enjoyable retirement: “Live within your means, maintain a modest home, drive a manageable car, and avoid capital-intensive ventures.
He indicated that a fruitful retirement requires discipline, foresight, and faith, saying, “Plan early, invest wisely, and let your retirement years be peaceful and fulfilling.”
PENT NEWS
