Dig your well today: Youth wealth starts with innovation and tier 3

On August 13, 2026, youth leaders from the Ashanti and Greater Accra Regions of the Health Services Workers’ Union, HSWU of the TUC, converged virtually to mark International Youth Day under a theme that cut straight to the heart of the nation’s future: “Securing Youth Wealth Through Innovation and Tier 3 Funds.”

Delivering the keynote address, Dr. Yaw Twum told a generation facing rising costs and economic uncertainty that the time to build wealth is not after retirement, but in their 20s and 30s.

“The economy does not wait,” Dr. Twum stated. “A salary alone, without a strategy, will always leave you chasing the end of the month. Wealth is not about flashy cars. Wealth is freedom — the freedom to say no to exploitation, and to build something that outlives you.”

Pillar One: Innovation as a Wealth Engine

Dr. Twum challenged young professionals to move beyond trading time for money and to start solving problems at scale. He cited the example of a physiotherapist who, instead of limiting herself to hospital duty, created home-based rehabilitation packages, leveraged virtual follow-ups via the *Bionet App*, and partnered with corporations for preventive care.

Crucially, he linked innovation to continuous education. “Because she married innovation with learning, she moved from staff level to leadership. She went from being paid for hours, to being paid for expertise, to being paid for leadership.”

His charge was direct: “Be students for life. Use your phone to build, not just to scroll. Your certificate opened the door. Your innovation and education will build the house.”

Pillar Two: Tier 3 as the Youth’s Most Powerful Financial Tool

The address placed strong emphasis on the Third-Tier Pension Scheme as the missing link in youth financial planning. Unlike the mandatory Tier 1 and occupational Tier 2, Tier 3 is voluntary, portable, and flexible.

Dr. Twum highlighted four advantages: ownership, flexibility of contributions, accessibility for education, business or housing, and discipline. He also spotlighted a benefit often overlooked — tax exemption.

“Under Ghana’s tax laws, your personal contributions to a registered Tier 3 scheme are tax-deductible,” he explained. “If your salary is Gh¢3,000 and you contribute Gh¢300 to Petra Tier 3, you are taxed on Gh¢2,700. Government, in effect, co-funds your savings, while compound interest grows your wealth.”

He urged members to engage HSWU’s Regional Industrial Relations Officers before month-end to join the Petra Tier 3 scheme.

Concluding, Dr. Twum outlined a practical framework: Earn with excellence, save and invest systematically with Tier 3 as the foundation, acquire income-generating assets, and protect wealth by avoiding get-rich-quick schemes.

He left the youth with an Akan proverb: “He who fetches water in a basket will complain of thirst, but he who digs a well will drink forever.” Short-term spending, he said, is fetching water in a basket. Long-term investing in innovation, education, and Tier 3 is digging the well.

He issued a 5-point call to action before August ends: download the Bionet App, open or top-up Petra Tier 3, engage GCB for productive loans, register for the land scheme, and use hire purchase only for income assets.

“International Youth Day 2026 must be our turning point,” Dr. Twum declared. “You are Ashanti. You are Greater Accra. You are HSWU. You are the wealth Ghana is waiting for. The future is not coming to us. We are going to build it.”

The virtual convening was organized by the Youth Committee, Ashanti and Greater Accra Region – HSWU of TUC.