Founded in 2019 with the support of the Mastercard Foundation, People’s Pension Trust Rwanda is a replication of the People’s Pension Trust Ghana, built to exponentially increase the impact of PPT.
Like Ghana a vast segment of the Rwandan population is financially underserved with no access to pension or saving products. Retirement and elderly care in the country were traditionally catered to by informal care structures in which families and communities would care for those unable to work. However shifting demographics and increased urbanisation has seen the erosion of these traditional structures leaving workers in a position where they quite literally forced to work until they die, less they endure old-age poverty.
Replicating People’s Pension Trust to a Rwandan Context
Similarly to Ghana, huge segments of population work in the formal sector, in Rwanda this is heavily made up by rural agriculture which employs around 75% of the workforce. Thus People’s Pension Trust Rwanda’s solution is designed for and targeted towards the rural smallholder farmer. Pension contributions can be made on a daily, weekly or monthly basis with the necessary flexibility to accommodate farmers whose income is based on large payments following a harvest and periods of little to no income in-between.
People’s Pension Trust Rwanda will work with the Mastercard Foundation for Rural Prosperity to enable 1 million in Rural Africa to gain access to appropriate savings, credit and insurance products.