The Majority Leader and Leader of Government Business in Parliament, Mahama Ayariga, has proposed the establishment of a pension scheme for retired parliamentarians. Addressing Parliament on January 29, 2025, Ayariga emphasized the importance of securing the financial future of former lawmakers. He argued that such a scheme would strengthen the institution of Parliament and uphold the integrity of its members.
Ayariga highlighted that many MPs serve for decades without a structured pension, often leading to financial difficulties post-retirement. His proposal includes funding the pension through revenues from carbon credits. By selling credits from environmental projects such as afforestation and renewable energy, Ghana could finance the pension without burdening taxpayers.
Ayariga referenced international examples, including the UK and Kenya, where similar schemes exist for legislators. He pointed out that without financial security, MPs might become susceptible to corruption, potentially compromising the legislature’s integrity. He suggested that a pension scheme would shield MPs from such influences, fostering a more independent and effective Parliament.
Pension scheme proposal for retired parliamentarians
Moreover, linking pensions to carbon credits would encourage legislative focus on environmental sustainability. Ayariga, who also serves as the MP for Bawku Central, proposed that Parliament could pass laws to mitigate climate change, promote renewable energy, and support afforestation.
He argued that this approach would align Ghana’s legislative priorities with global environmental goals, offering long-term benefits for both the country and retired MPs. Additionally, he called for the formation of a committee to explore the feasibility of the pension scheme. While acknowledging potential risks, such as volatility in carbon credit markets, he emphasized that with proper management and transparency, the system could be viable.
Ayariga urged his fellow MPs to support the proposal, framing it as essential for both the financial well-being of lawmakers and the environmental health of Ghana. The proposal received widespread support from MPs, who agreed on the necessity of such a scheme. However, there were disagreements regarding the funding sources; some suggested government support, while others argued against burdening taxpayers.
It was decided that a committee would be set up to address these issues and finalize the modalities of the pension scheme.
