Business News of 2014-07-01

Organised Labour threatens strike on July 14

Organised Labour says if government does not detach itself from the management of its funds under the National Pensions Act of 2008 (Act 766) within the next two weeks, “we shall advise ourselves”.

Leadership insists funds of public sector workers under the new pension scheme should be handed over to workers for self-management.

The Act requires workers to contribute 5.5 per cent of their earnings into a private fund as part of mandatory second-tier programme.

However, at a meeting with journalists on Monday, June 30 in Accra, Organised Labour says if government does not transfer members’ pension funds to them, they will embark upon industrial action.

The scheme, which is a three-tier policy, is managed by the National Pensions Regulatory Authority (NPRA) under the Temporary Pension Fund Account (TPFA).

“NPRA should be seen as an authority vested with powers to see to the effective and efficient implementation of all pensions in Ghana,” noted Awotwe Nkansah, the Deputy General Secretary of the Ghana National Association of Teachers (GNAT).

“We wish to state that if by July 14, 2014, directives have not been issued for the transfer of funds to the various public sector schemes, we shall advise ourselves.”

Executive Secretary of the Civil and Local Government Staff Association of Ghana (CLOGSAG) Isaac Bampoe-Addo said they will religiously stick to the two-week ultimatum given government but will begin with withdrawal of some essential services.

“For our benefits, we are saying our members should go under our scheme,” he said.

Angel Cabornu, the Vice President of the National Association of Graduate Teachers (NAGRAT), explained to journalists that the NPRA was set up to only be mediator between government and workers.

“What we are asking government is transfer our monies to these schemes that have been transferred.”

Source: tv3network.com
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