Labour unions declare strike over tier-2 pensions

Business News of Thursday, 14 September 2017

Source: citifmonline.com

2017-09-14

On Strike Sign1The unions are demanding that their pension contributions be transferred to their custodian banks

Twelve public sector labour unions have declared an indefinite strike action. This is to protest government’s handling of their tier-2 pension contributions.

The unions include the Ghana Medical Association, the Civil and Local Government Staff Association, CLOGSAG and the Ghana National Association of Teachers, GNAT.

The unions are demanding that their pension contributions spanning 2010 to 2016, be transferred to their custodian banks rather than being kept in a temporary pensions account where it accrues no interests.

In July this year, the Public Relations Officer of CLOGSAG, one of the striking unions, Edmund Acquaye, threatened the union will take a critical action against government if their monies were not paid.

“We are asking the government to pay the monies that have been accrued by the Bank of Ghana that is in the temporary pensions account. What we are saying is that, since 2010 to 2016, contributors’ money have been kept at the Bank of Ghana which is yielding no interest,” he said.

Three years ago, eight labour unions laid down their tools to make similar demands.

They challenged the Finance Ministry’s decision to use Pension Alliance Trust as a sole trustee of the second tier pension scheme for all employees on government payroll.

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