More labour trouble looms as Act 766 pensions in limbo

General News of Tuesday, 27 January 2015

Source: tv3network.com

Haruna Iddrisu Minister Trade

Red flags have been raised over government’s handling of the first pensions under the National Pensions Act of 2008, Act 766.

According to sources, government has only written to beneficiaries instructing them to go to the National Pensions Regulatory Authority (NPRA) for their claims without any prior registration.

The first beneficiaries of the new Act, which has sparked controversy among workers, especially as regards managers of its second-tier funds, are expected to go on retirement this month.

No data has been gathered on the would-be pensioners, TV3 gathers.

“People are being hurt as I speak now even though government has come out with letters to say those who retire go straight to NPRA and get their monies,” revealed Solomon Kotei, General Secretary of the Industrial and Communication Workers’ Union.

He said the matter is a time bomb that will explode if government fails to address the challenges.

“If these things begin to accumulate and labour is not able to withhold it, the worst fears will be entertained.”

Mr Kotei added that even with the old process of registering with the Social Security and National Insurance Trust (SSNIT), pensioners encountered difficulties before getting their claims.

How much more this one, he wondered.

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