Regional News Fri, 18 Jul 2014

Organised Labour worried report on pension scheme not sent to President

Executive Secretary of the Civil and Local Government Staff Association of Ghana (CLOGSAG) Isaac Bampoe Addo has expressed surprise about the failure of a three-member committee to present a report to President John Dramani Mahama over workers' demands to manage the second-tier pension fund.

He told TV3’s Daniel Opoku that the committee was expected to present the report last Friday.

The new pension legislation, the National Pensions Act of 2008, requires workers to contribute 5.5 per cent of their earnings into a private fund as part of mandatory second-tier programme.

But at a meeting last month, Organised Labour expressed anger at the way the fund is being managed, threatening to embark on a strike.

The threat prompted government to set up the committee to hear workers’ concerns.


“The report should have gotten to him on Friday but as at now the report has not gotten to him,” observed Mr Bampoe Addo.

“But we have made some progress and we are still negotiating,” he pointed out.

“We hope that before the end of this week the report will get to the president.”

TV3 gathers the Bank of Ghana is managing the fund though workers fear government may have used the monies.

Source: Tv3network.com