GNAT Threatens To Strike Over Tier-2 Pension Arrears

The Ghana National Association of Teachers (GNAT) has expressed anger over the National Pensions Regulatory Authority’s refusal to pay a GH¢1.7 billion tier-two pension arrears owned them.

At a press briefing in Accra yesterday, Mr. David Ofori Acheampong, General Secretary of GNAT said the Association would embark on a sit-down strike if NPRA refuses to release the 80months arrears, after a 72 hours ultimatum.

“We have waited for far too long and it appear our patience is running out. We are giving the NPRA 72 hours to release the bonds. If they fail to release the bonds, we will ask the Trust Board to stop paying fees to the NPRA,” he stressed.

According to him, the non-release of the bonds would deprive their members from getting their lump sum benefits.

The issue of tier-two pension arrears falls back in October 2014 when the entire public sector employees demanded for the release of the Temporal Pension Fund Account as well as the monthly contributions.

President Akufo-Addo after assuming office, fulfilled his pledge by issuing bonds in November 2017 to settle the GES Occupational Pensions Scheme share of the TPFA of GH¢1.7 billion.

However, despite directives from the Ministry of Finance, the NPRA has refused to release the funds to the Association.

“We were told by the authority they are going to engage a consultant to produce data before the release of the bonds. However, without data NPRA had released the share of the TPFA in bonds to other three public Sector Schemes,” the General Secretary hinted.

According to him, retired contributors are referred back to the Teacher Unions for their payment whenever they go to NPRA for their benefits.

“We have been compelled to take these strategies because the NPRA, the Regulator, has turned itself into fund manager and custodian. So, if the Trust Board has any operational challenges where do they go for resolution?” he quizzed.

The tier 2 is a mandatory fully funded and privately managed occupational pension scheme to pay only the lump sum benefit.

It is managed by Trustees approved by the Board of the National Pensions Regulatory Authority (NPRA).

By: Emmanuel Yeboah Britwum