GNAT tells gov’t to release 7-month arrears on pensions with penalty

General Secretary of GNAT, Thomas Musah
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The Ghana National Association of Teachers, (GNAT) has asked government to release the over seven months arrears owed teachers on their pensions or will incur its wrath.

Ahead of the May Day celebration, General Secretary of GNAT, Thomas Musah Tanko said the government should release the amount with three percent penalty paid on it as stipulated in the Pensions Act 766.

Under the Pensions Act 766, deductions from salaries for pension benefits are to be transferred to fund managers within 14 working days.

However, GNAT is upset for seven months now government through the controller and accountant general department has failed to release the amount.

The amount running into billions of cedis according to GNAT without being released will affect the investment portfolios of retirees..

This, Mr Musah Tanko has asked government to make the release with the three percent penalty.

“All these moneys are in arrears and the moneys are expected to be paid with 3 per cent penalty increment but the employer will not pay,” he told TV3’s Daniel Opoku in interview on Thursday April 28.

He added “The most important thing is that any increment that we give, must have correlation effect on pension. That is the position that we all need to adopt.

“If you increase salary, it must have a direct effect on pension and it must also enable you, when you are going on retirement, you can have at least decent home to sleep.

“One of the Key challenges is, you will see somebody who is in active service, there will be some kind of allowances and other incentives that you take but when you go on retirement your calculation is based on your income.

“So the focus now is that whatever income that we make, that income should be such that we can go home with an enhanced pension.

“So the focus is on incomes that will have a direct bearing on pension and also have a direct bearing to enable you go retirement to at least a two bedroom house.”

Source: 3news.com|Ghana

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