Teachers asked to save towards pension

BY: Ezekiel E. Sottie
The Teachers Fund and Teachers Savings Schemes came with a lot of benefits for, which reason teachers must patronise them

The Asuogyaman Teachers Savings Scheme (ATSS), has held its first Annual General Meeting (AGM) at Atimpoku with a call on teachers to save towards their pension.

The General Manager of the Ghana National Association of Teachers Fund, Mr Foster Buabeng, who made the call,said teachers must always contribute extra money towards their pension because of the inherent benefits. The scheme, which started in 2012 with 50 shareholders currently has 230 shareholders.

Mr Buabeng reminded teachers that contributing something extra towards their pension outside the mandatory pension schemes would enable them enjoy life when they were on retirement.

 

He said the Teachers Fund and Teachers Savings Schemes came with a lot of benefits for, which reason teachers must patronise them.

Mr Buabeng advised the teachers not to borrow more than the ceiling set by their saving scheme managers to ensure that the scheme was able to meet other members’ requests while ensuring  that the scheme had adequate cash flows for its operation.

In the same vein, he encouraged those who saved more to put aside part of their disposable incomes towards their future retirements.

Board chairman

The Board Chairman for the Asuogyaman Savings Scheme, Rev. Alexander  in his remarks, praised the executive of the New Juaben, Akuapem North and Yilo Krobo Teachers Savings Schemes for investing in the Asuogyamean Teachers Savings Scheme.

He assured the members that in spite of some challenges, the scheme was on course and urged them to embrace the new investment package the management will put in place from the beginning of next year.

The Asuogyaman District Director of Education, Ms Mavis Yirenkyi, urged the teachers to work hard and take interest in savings schemes so that they would be able to meet emergencies without so much financial stress.

The Board Chairman for the GNAT Fund, Mr George Yamoah, who chaired the function advised teachers to save in low risk areas.