noted, building financial education into the school curriculum would allow children to acquire valuable knowledge and skills that will help them throughout their lives - particularly as some parents may not be well - equipped to pass on these skills. 4 early financial education also helps build financial resilience by enabling people to devise short and long - term strategies to cope with financial shocks, alongside the public policy actions to lessen the effects of the shock on households and firms. in the central bank, we have engaged directly with schools in various ways over a number of years in order to build knowledge of financial and economic concepts. currently, we are piloting a programme that encourages central bank staff to visit their local schools, and are also exploring enhancements to our public exhibitions and visitor centre that would be beneficial to schools. pensions research if financial education must start young, it is also, of course, a life - long focus - necessary to empower consumers to manage, save and invest their money in a way that meets their needs. pensions are an example of where financial literacy and education play a vital role. in order for consumers to effectively plan and make the best decisions they can to support their living standard and secure their interests after retirement, they need to have knowledge and access to information concerning their own pension arrangements. 4 / 6 bis - central bankers'speeches research published by the central bank today highlights some significant challenges that consumers encounter with pensions. our research shows that pensions are a remote and distant income goal for many consumers. competing financial commitments, cost - of - living pressures and a lack of understanding on how best to plan for the future will affect many consumers'ability to prioritise pension saving and retirement income. financial literacy and awareness of one's pensions needs are necessary for consumers to overcome these challenges. consumers need the tools to determine what their postretirement income will be and to understand whether this is adequate for their individual situation. if the expected pension income is not adequate, consumers need to understand the actions they can take to increase it and the supports that may be available to them. given the evidence of this research, i believe that there is a real opportunity for the broader financial sector and other stakeholders to work together in this space to make a difference for consumers in planning for their long - term financial wellbeing through the provision of information and initiatives to support all consumers. in this regard, the government's introduction of auto - enrolment, the new retirement savings system for employees, from january 202

public the opportunity to have complaints, questions and requests for information dealt with promptly. we have the technical team that provides the backstopping function at all times. over time, this platform would introduce an interactive voice response system that would also have built - in financial education section for the public. 7. also, as communication is as much about educating as it is about informing, in the coming year, there would be a step - up in financial literacy and financial education programmes. we believe that the bank has a significant stake in financial education and in all this we will be counting on your support. l am very confident that we will continue to work together as effectively as we have done in the past. 8. thank you for your support over the years and on behalf of the board of directors and the entire management of bank of ghana, l wish you a very happy and prosperous new year. 1 / 2 bis central bankers'speeches thank you. 2 / 2 bis central bankers'speeches