The Ghana National Association of Teachers (GNAT) has given the National Pensions Regulatory Authority (NPRA) a three-day ultimatum to release the bonds for the payment of GH¢1.7 billion Tier Two pension contributions of its members that
has been in arrears since January 2010 .
The General Secretary of GNAT, Mr David Ofori Acheampong, who addressed the press conference, further stressed that the association would advise the Board of the Ghana Education Service Occupational Pensions Scheme (GESOPS) to stop paying fees to the NPRA if the authority failed to meet the deadline.
There are more than 326,000 employees of the GES who are part of the
Mr Acheampong, who was flanked by the National President of GNAT, Ms Philippa Larsen, and other officers of the teacher body, added that the association would commence a series of actions, including demonstrations, when schools reopened for the 2018/19 academic year.
Ghana News Headlines
For latest news in Ghana, visit Graphic Online news headlines page Ghana news page
“We have waited for far too long, and it appears our patience is running out. We have been compelled to take this line of action because the NPRA, which is the regulator, has turned itself into a fund manager and custodian, which is unacceptable,” he said.
Between 2012 and 2016 when the
In October 2014, public sector employees embarked on a strike to demand the release of the TPFA, as well as the monthly contributions.
In the ensuing brouhaha, the government took the unions in the public sector, including teacher unions, to court, but the issue was later resolved through an out-of-court settlement.
The High Court asked the parties to take steps to implement a
Twist of events
Mr Acheampong explained that the transfer of five per cent of employees’ contribution was to have started in April 2016, while the TPFA was also to have come on stream in July 2016.
“The Public Sector Scheme Trust Boards were constituted in December 2015 and inaugurated in April 2016, but it was not until November 2016 that the contributions for September and October were transferred to the scheme, leaving an outstanding 80 months arrears from January 2010 to
Mr Acheampong added that the President, Nana Addo Dankwa Akufo-Addo, made good his promise to transfer the 80 months contributory arrears in
“The Ministry of Finance handed over the bonds to the NPRA to be given to the custodian bank, but despite that directive, the NPRA has still not done so, with the excuse that they are going to engage the consultant to produce data before they release the bonds.
“However, without data, the NPRA has released the share of the TPFA in bonds to the other three public sector schemes,” he said.