IMF fingered in amendments to Pensions Act

Executive Secretary of the Industrial and Commercial Workers Union (ICU) Solomon Kotei says the recent amendments sought by the Ministry of Employment and Labour Relations as regards the National Pensions Act of 2008, Act 766, is one of the prescriptions of the International Monetary Fund (IMF).

Mr Kotei said all the prescriptions of the IMF will be gradually foisted on the public sector, and this may create tension within the sector.

Mr Kotei made these revelations on Thursday, December 18, in an interview with TV3’s Daniel Opoku.

Section 77 has been of key interest to labour as it calls for a slash of pensions from 50 per cent to 37 per cent.

“We are really not satisfied with the way the matter was handled,” noted National President of the National Association of Graduate Teachers (NAGRAT) Christian Addai-Poku.

“It was as if government wanted to hide it from the unions and smuggle the matter to Parliament and get it passed as quickly as possible.”

But for the ICU Executive Secretary, it is an IMF move.

“Some of us have argued already that wherever IMF has gone, public sector pensions are reduced, and this is exactly what we are seeing.”

The workers have threatened to embark on strike over the move as they claim it “is more serious” than the second-tier tussle.

They have hinted at thoroughly studying the amendments before any action is taken.