Stay off our pensions – UTAG warns govt over newly proposed domestic debt exchange programme

19th April 2023

The University Teachers Association of Ghana (UTAG) has warned that it will stand firm on its resolve not to include pension funds in a debt exchange programme by the government.

According to the Association, they will outrightly reject the new proposal by the Ministry of Finance to include pension funds in a newly proposed domestic debt exchange programme.

According to UTAG, it has sighted an invitation by the Finance Ministry sent to the Board of Trustees of Pension Funds to request the participation in the New GOG Proposed Alternative Offer for Pension Funds.

“UTAG reiterates its earlier resolve on the Domestic Debt Exchange Programme contained in a communique with reference UTAG/NAT/2022/EM-012 and dated 7th December 2022 that we are still unable to participate in any intervention that would worsen the plight of the already impoverished Ghanaian University Lecturer,” a statement on Monday said.

Finance Minister, Ken Ofori Atta
Finance Minister, Ken Ofori Atta

“We, therefore, write to unequivocally reject the request to use our Pension Funds, i.e., GUSSS, SSNIT and any other pension fund that affect our members, for the new alternative proposed offer by government.”

It concluded: “We warn that governmental intransigence in this matter would not be countenanced as we are willing to fight to ensure that no one robs our members off their pension funds.”

The decision was taken at an emergency meeting held by the National Executive Committee (NEC) of UTAG on Saturday, April 15.

Written by Web Master

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