Sidebar

Download Graphic News App

Install Graphic News App for the complete article

 

22
Tue, Aug

Teachers Fund pledges new initiatives for members

The Teachers Fund, operated by the Ghana National Association of Teachers (GNAT), has launched its 20th anniversary celebration with a pledge to introduce new initiatives to better the lot of its members.

The initiatives include restructuring of fund, reduction of interest on loans, construction of new office complex in Kumasi, establishment of a call centre, introduction of a new software at its secretariat and the direct transfers of money into the accounts of members.

The Board Chairman of the Teachers Fund, Mr George Asare Yamoah, said this when he presented a paper on the state of the fund during the launch of the anniversary in Accra last week.

 

Alignment
Mr Yamoah explained that the fund looked forward to finalising discussions on its intention to align the business processes of the fund secretariat with those of the fund subsidiaries as a cost cutting measure before the end of the year.

He indicated that the growing numbers of the fund required it to improve upon its service delivery to the over 200,000 members scattered across the country.

“As a result, we have invested in a new contact centre solution that will see us offer seamless services to our members. The first phase of this project has been installed with a test run underway,” he said, and added that “by the end of the year, it is our expectation that the full contact centre solution will be deployed to enhance our services.”

Regarding the new software, Mr Yamoah said the underlying factor for the deployment of the facility was to improve the services rendered by the fund, and that it was expected to be fully operational from July this year.

 

Loans

“As part of efforts to improve upon our efficiency, loans for members shall be transferred directly into the accounts of loan beneficiaries with effect from next month. This initiative is currently being piloted in the Greater Accra Region.”

Mr Yamoah said the board of the fund had also agreed to review interest rate on loans from the fund downwards to reflect current changes in the financial sector, starting July 1, 2017.A Deputy Minister of Education, Dr Yaw Osei Adutwum, who launched the

A Deputy Minister of Education, Dr Yaw Osei Adutwum, who launched the 20th-anniversary celebrations, commended GNAT for the operation of the fund, saying that it was a good initiative for new teachers since that would help to also secure their future.

“This is an initiative that is of great benefit to teachers. I will sing your praises when I visit schools, I will tell the teachers that you are doing a great job on their behalf,” he said.

 

Generations

Dr Adutwum urged the managers of the fund to keep on doing the good things they were doing so that generations of teachers would benefit from it, adding that as teachers contributed to the fund, they were also securing their future.In another presentation, the General Secretary of GNAT, Mr David Ofori Acheampong, said the initial objective of the fund was to provide retirement supplement by investing the monthly contributions to generate good returns for members.

In another presentation, the General Secretary of GNAT, Mr David Ofori Acheampong, said the initial objective of the fund was to provide retirement supplement by investing the monthly contributions to generate good returns for members.Subsequently, he said the fund had grown to provide other services, including lifestyle enhancing facilities in the form of loans, and access to credit to purchase household items and engage in real estate ventures.

Subsequently, he said the fund had grown to provide other services, including lifestyle enhancing facilities in the form of loans, and access to credit to purchase household items and engage in real estate ventures.The 20th anniversary, which would be climaxed on May 18, 2018, is on the theme: TF@20: Invest to Benefit Today and Secure Your Future”. The year-long activities include donations to orphanages, health walk and clean up exercise, blood donation, quiz competitions, as well as float and durbars in the various regions.

The 20th anniversary, which would be climaxed on May 18, 2018, is on the theme: TF@20: Invest to Benefit Today and Secure Your Future”. The year-long activities include donations to orphanages, health walk and clean up exercise, blood donation, quiz competitions, as well as float and durbars in the various regions.