When things were good, we benefited – Ex staff of GCFM replies ungrateful colleagues

A former staff of now defunct Gold Coast Fund Management has debunked claims of ill treatment meted out to employees after the revocation of license of the company.

This follows claims by some former staff of the defunct company that they have been unable to access their provident fund (Tier 3) from Pentrust Limited.

In a press statement copied to GhanaWeb Monday, the Ex Gold Coast Fund Management staff noted that they have not been able to feed their families due to their inability to retrieve their Provident Fund contributions.

“Since November 2019, several attempts to get our Provident Fund paid to us have proven futile. The fund administrator has utterly failed to honour our demands. Therefore, we deem it very urgent and necessary to notify the National Pension Regulatory Authority, the regulator of Pentrust Ltd, and Government about these developments and the plight of the ex-staff,” the statement read in part.

But the former staff who claims to have worked with the Gold Coast Fund Management employers for over 10 years has insisted that details provided by his colleagues are not exactly a true reflection of the situation.

In a separate statement copied to GhanaWeb, the former staff noted that contrary to claims of non-payment of some benefits, they have in fact been paid.

“For the records, when the license of our employer was revoked in 2019, we have received our full PF contributions as employees. What is outstanding is the employer's matching which are monies contributed for us by the employer, these were not deducted from our salaries,” the statement read.

The former staff also added that prior to the revocation of license in 2019, GCFM employees enjoyed their full benefits and even more.

The statement further read; “You don't stay this long with a bad employer! As employees, we had enjoyed benefits such as life insurance, company sponsored health insurance, low interest loans, training opportunities and for some people it was outside the country even and a 100% matching PF by our employer… it is important to state that when things were good, we benefitted.”

Read a copy of full statement below;

RE: DELAY OF PROVIDENT FUND PAYMENT -

(EX-STAFF OF GOLD COAST FUND MANAGEMENT)

23RD NOVEMBER, 2020

False impression created by some ex staff of Gold Coast Fund Management.

Some information in a press release purported to have come from a former Gold Coast Staff is not accurate.

I am also a former staff and I must say that until the license of our former employer was revoked, we've had a good working relationship with many of us working for the company for almost a decade due to the good working relationship.

You don't stay this long with a bad employer! As employees, We had enjoyed benefits such as life insurance, company sponsored health insurance, low interest loans, training opportunities and for some people it was outside the country even and a 100% matching PF by our employer.

While I agree that the current hardship brought on us by the revocation of the license of the company we used to work for is unbearable, it is important to state that when things were good, we benefitted.

Even when some of my colleagues could not meet their targets, they were not shown the exit door, out of compassion, of what will become of their families if they lost their jobs, they were maintained and assisted to rise to the occasion. It is therefore saddening that some colleagues will want to drag matters in this manner.

For the records, when the license of our employer was revoked in 2019, we have received our full PF contributions as employees. What is outstanding is the employer's matching which are monies contributed for us by the employer, these were not deducted from our salaries.

We have been assured to receive these monies once the employer receives payment from the receiver. After working for an employer for decades, I will find it difficult to doubt this.

For an employer who has had his most terrible moments in these past few years, the least we could do as employees is to add to the pressure. I wonder how going to press will bring solutions when we still know where to find our employers.

It is said that you don't bite the finger that once fed you, tables turn and let it be on records that not all of us at GCFM are not grateful of the good times and before anyone thinks that I've been paid to do this, or thinks I have no challenges as others, note that I am still jobless as many of my colleagues but I won't bite the fingers that ever fed me!

I'd like to use this opportunity to appeal to the receiver to release our payments to bring us some relief.

Signed

Ex staff of Gold Coast Fund Management