The Ministry in a press release said it had taken note of news reports and social media commentary suggesting that a new Ministry had been created for Pensions with Mr Awuah being appointed as its new sector Miniter.

Instead, the release said his designation as the Minister responsible for Pensions was only an additional responsibility to his current role.

"For the avoidance of doubt, no such New Ministry has been created," the release said.

"Indeed the letter emanating from H.E. the President only seeks to formally assign the two Institutions ie. National Pensions Regulatory Authority (NPRA) and the Social Security and National Insurance Trust (SSNIT) to Hon. Ignatius Baffour Awuah as additional responsibility.

"The Ministry of Employment and Labour Relations will therefore be grateful if all concerned would disregard the erroneous impression being created by the said articles in the media and on various social media platforms".

No new staff, budget

In a post on Facebook, the Director of Communications at the Presidency, Eugene Arhin added that Mr Awuah's new role is only supervisory and no new staff or budget will be allocated to it.

He added that prior to this designation by President Akufo-Addo, the Minister responsible for Pensions was the Minister for Finance, Ken Ofori-Atta.

Mr Arhin also mentioned that former President John Dramanu Mahama's administration also made a similar designation with the then Minister for Labour and Employment, Haruna Iddrisu, serving additionally as Minister responsible for Pensions

"The designation of the Minister for Employment and Labour Relations, Hon. Ignatius Baffuor Awuah, as Minister responsible for Pensions, was done in accordance with the National Pensions Act, 2008 (Act 766)," he posted.

"It is not going to be a new Ministry, and neither will it recruit new staff, or be allocated a budget. It is only a supervisory role, especially as Hon. Ignatius Baffuor Awuah is already in charge of the National Pensions Regulatory Authority, the regulator of SSNIT".

"This is not the first time a Minister has been designated to be responsible for the activities of Pensions in the country. Indeed, following the amendment of the National Pensions Act, 2008, the then Minister for Labour and Employment, Hon. Haruna Iddrisu, MP, was assigned by former President John Dramani Mahama as Minister responsible for Pensions. As a result, he assumed responsibility for SSNIT".