By: Roselyn Ganyaglo
The Civil and Local Government Staff Association of Ghana, (CLOSAG) has threatened an indefinite nationwide strike if the government does not back down on using pension funds in the Debt Exchange Programme.
It says per the Pensions Act, 2008 (Act 766), Pension funds cannot be used for the Debt Exchange Programme because they are individual funds.
Addressing a news conference in Accra, Executive Secretary of CLOGSAC, Dr. Isaac Bampoe Addo said portions of the statement by the Finance Minister states that individual holders of bonds are exempt, and since pensions are vest in individuals and not the Trustee, he does not expect pensions to be included in the programme.
”Article 102 Clause (1) states that the accrued benefits of a member in occupational pension scheme shall not be attached in execution of a judgement debt or be used as a charge, pledge, lien or be transferred, assigned, or alienated by or on behalf of the member” Dr. Bampoe Addo noted
He said if the government really wants to address the economic challenges in the country, it should as a first step review its flagship programmes and cut down on the use of party apparatchiks instead of staff of the ministries and agencies.
“We state categorically that Pension funds are individual investments. Per the pronouncement by the Finance Minister, pensions funds for individual holders are exempted from Debt Exchange Programme. The Individual contributions and earnings in the Pension Fund vest in the individual and not the Trustee’’. Executive Secretary indicated
Dr. Bampoe Addo said it is ok to sacrifice but it must be done in the right manner. He said programmes such as planting for food and jobs, YEA and Free SHS can be reexamined to allow those who can afford to pay. He urged members to remain calm in the discharge of their duties as it monitors the government to do the needful.
