The Executive Director of IMANI Ghana, Franklin Cudjoe has said workers must never trust government for their pension fund.
Franklin Cudjoe is however urging public sector workers to sue government in an attempt to jeopardize with their pension money even though they have called off their strike.
“I kept telling you that the government has messed up pensions for all. The accounts on individual contributions are not only messy, they are extortionately horrible. Tweeeakai!!!!!! This is the time the workers must counter sue the government to bring all the money,” he lamented
Read below and see why government is adamant at keeping pension money by Franklin Cudjoe
1. A report by the National Pensions Regulatory Authority (NPRA) to Parliament, intercepted by Joy News, has revealed that government through the Controller and Accountant General has failed to transfer more than 200 million cedis of workers’ pension contributions to the designated Bank of Ghana account.
2. The document also shows that the Social Security and National Insurance Trust (SSNIT) has also failed to transfer contributions collected between June and September, 2014 into the account.
3. “The total outstanding contributions determined on the basis of Bank Transfer Advices (BTAs) for CAGD as at October 27, 2014 is GHS269, 269, 105.79. This amount excludes the amount for the contribution months of August 2014 and September 2014 for which BATs are yet to be issued. The amount of GHS269,269,105.79 stated above is also without interest on delayed contributions and on unpaid contributions.
4. "It is worth noting that the total amount for outstanding mounts for SSNIT is yet to be determined based on BTAs submitted to NPRA by SSNIT.”
5. This is why government has deliberately “collapsed” schemes registered by the workers and is compelling them to sign onto the Pensions Alliance Trust Company Limited, appointed by the government.
6. The Pensions Act stipulates that if an employer fails to transfer workers’ contribution within 14 days from the end of each month it would be liable to a 3% penalty.
7. Meanwhile, the spokesperson for the Registered Public Sector Workers Forum, Reynolds Tenkorang told Joy News, workers are not “surprised at all” about the development because it has been their suspicion all along. Mr. Tenkorang therefore insisted that government be made to pay 3% of the GHS269m it has defaulted in transferring for months.
8. Mr. Tenkorang capped his argument with, “The cat is out of the bag”.
9. I DO NOT TRUST EVEN TRUST THE RECORDING THE NPRA is reporting here. The Interests on these accounts for the past 4 years must certainly be more than the less than 3% workers are getting when the promised rate of return was averaging 17%. A PROPER FORENSIC AUDIT BE UNDERTAKEN
And Haruna Iddrisu and Baba Jamal, Omane Boamah and Dr. Kpessah Whyte all say we should trust government to keep our pension money safe? Tweeeakai!!!!!! This is the time the workers must counter sue the government to bring all the money.
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