GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home Top Stories

Gov’t Begins Payment of Tier 2 Pension Contributions

March 1, 2017
in Top Stories
Share on FacebookShare on Twitter

Government has commenced the payment of the tier two pension contributions of public sector workers into their registered schemes.

You Might Also Like

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

The Diverse Currencies of Africa: Impact on Economic Growth

Twelve labour consisting of the Ghana Medical Association, the Ghana National Association of Teachers, the Civil and Local Government Staff Association among others, laid down their tools, fighting the erstwhile Mahama-government to pay up, after several years of negotiations.

But speaking to Citi News, the Executive Secretary of CLOGSAG, Dr. Isaac Bampoe-Addo, said after pleas to the Akufo-Addo government, payment has commenced to their custodian banks as expected.

“Currently, all our monthly contributions are being paid to our custodian banks which is a good sign and we are very grateful for that. What is left to be handled is the outstanding arrears which is about 18-months that has not being paid; but currently all contributions since December to January has been paid to our custodian banks,” he said.

“We are happy with what is happening now and we think if it goes on, the arrears will be cleared. It is fair that once we have arrears of 18 months, ours is paid first before others are paid,” he added.

Meanwhile, the Deputy General secretary of the Ghana Medical Association (GMA), Dr. Justice Yankson, whoconfirmed the payment to their members, said the former government had also commenced paying of their arrears but some amounts are still outstanding.

“The monies that had been deducted from January 2010 to August 2016 is still outstanding. As we speak, those funds are yet to be transferred to the various schemes. We are looking at something within GH¢3.5 billion to 4 billion. We need to audit those funds carefully to ensure that every worker is assigned his or her contribution and the interest.”

The Minister for Employment and Labour Relations, Ignatius Baffuor-Awuah, during his vetting before Parliament’s Appointments Committee said he will collaborate with relevant agencies including the National Pensions Regulatory Authority (NPRA), to investigate the cause of the delay in the payment of the tier two pension allowances, and ensure the contributions are paid to avert labour union strikes over the matter.

Although the previous National Democratic Congress (NDC) government said it had begun working to pay all arrears to the labour unions, it could not satisfy the demands of the labour unions before leaving office earlier this year.

Public sector workers in the past embarked on strike over the non-payment of the tier two pension contributions to their respective fund managers.

After the last protest, the Chairman of the Forum of Public Sector Labour Unions and Executive Secretary of CLOGSAG, Dr. Isaac Bampoe, told Citi News, that workers want their second tier pension contributions to be transferred to their custodian banks.

According to him, there was the need for accurate data on all public sector workers to get government to pay back all monies owed the workers.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

(Via: CitiFM Online Ghana)

Tags: Akufo-Addo governmentArrearsBanks - NECBusiness_FinancechairmanCitiCivil and Local Government Staff AssociationcustodianDeputy General SecretaryeconomyExecutive SecretaryfinanceFinancial servicesGhana Medical AssociationGhana National Association of TeachersIgnatius Baffuor AwuahIsaac BampoeIsaac Bampoe AddoLaborministermoneyNational Democratic Congress (NDC)National Pensions Regulatory AuthorityParliaments Appointments CommitteePensionPersonal financepoliticsSocial IssuesSocial lawUnions and Executive Secretary

Related News

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

by ghanastar
February 25, 2024
0

In a poignant ceremony held on Saturday, February 24, 2024, at the Forecourt of the State House, hundreds of mourners...

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

by ghanastar
June 17, 2023
0

In a heartfelt revelation of his life's journey, the Vice President of the Republic, His Excellency Dr. Mahamudu Bawumia, spoke...

The Diverse Currencies of Africa: Impact on Economic Growth

The Diverse Currencies of Africa: Impact on Economic Growth

by ghanastar
June 17, 2023
0

Africa, a continent rich in cultural diversity, is home to a vast array of currencies. With 54 recognized countries, each...

Suicide at Aburi Botanical Gardens: Man Found Dead

Suicide at Aburi Botanical Gardens: Man Found Dead

by ghanastar
January 14, 2023
0

A man, believed to be in his fifties, has died by suicide in the Aburi Botanical Gardens in the Eastern...

Next Post

Barack and Michelle Obama Agree Penguin Random House Book Deal

$700m Figure To Tackle Accra Flooding Overblown

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Government of Ghana Unveils Official Portraits of President John Dramani Mahama and Vice President Prof. Naana Jane Opoku-Agyemang
  • Who Is the Woman (Sheena Gakpe) in Sarkodie’s Latest Hit “No Sir” and Why Everyone Is Talking about It
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com