The National Pensions Regulatory Authority (NPRA) has rejected allegations by the Minority in Parliament that its Chief Executive Officer, Chris Boadi-Mensah, doubled his salary upon assuming office.
The accusations were leveled by the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, during a press conference on Thursday, April 16.
Mr Assafuah claimed that Mr Boadi-Mensah unilaterally increased his own salary shortly after taking office in February 2025, at a time when the NPRA Board had not yet been constituted.
In response, the NPRA issued a counter press release describing the claims as inaccurate and misleading.
According to the Authority, the salary adjustments cited by the MP were approved long before Mr Boadi-Mensah assumed office and had nothing to do with any unilateral action on his part.
The NPRA explained that a 25 percent salary increment was approved by the previous Board in September 2024, with implementation scheduled to take effect from January 1, 2025 — weeks before the current CEO’s appointment.
“The claim that Mr Chris Boadi-Mensah doubled his salary upon assuming office is completely untrue. 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,” the statement said.
The Authority added: “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 NPRA emphasised that the current salary structure is a continuation of decisions taken by the previous leadership and not the result of any action by the incumbent CEO.
It suggested that the allegations may have arisen from a misunderstanding or insufficient verification of the facts regarding the approved remuneration framework.
The regulator reiterated that Mr Boadi-Mensah did not increase or double his salary upon assuming office, describing the Minority’s claims as baseless.