Tier Two Pension Saga: No Govt Official Is Interested In Hiding Pension Numbers- Haruna Iddrisu

    /    Nov 16, 2016   /     Business  /    0 Comments  /    290 Views

The Employment and Labour Relations Minister, Haruna Iddrisu has been responding to concerns raised by the 12 Labour unions over the transfer of their tier two pension funds into a private account.

The minister said government had to put in place some measures for the smooth transfer of the workers’ 5percent contributions into their own private scheme hence the delay.

The unions on Monday threatened to strike if their 5 percent pension contributions are not transferred in to their own private scheme.

However responding to the unions at a meeting with the Trades Union Congress (TUC), the labor minister said no one in the current government is interested in hiding pension numbers in transitional process ongoing

“No one in this administration led by president Mahama will want to seek to hid pension numbers by way of declaration in any transitional process.”

According to Mr. Iddrisu, “subsequent to the court settlement we needed to review the deed instrument and it needed to go through a certain legal process. Beyond that we needed to appoint  in consultation with each other with both government and you nominating representations to the board which saw subsequently the inauguration to the board. That took some time so that should explain your April timetable.”

He added that what needed to be resolved now is “to decided, per the law, where must the transfers go.”

He averred that Government is up to date with the “transfers, the monies are with the NPRA” and the “the temporary pension fund account itself was under the supervision of the NPRA” for this reason he said, government’s plan was “for the transfers to go on the schedule”, and “the NPRA will do the transfers”, asking if that is what the workers were against.

Hon Iddrisu assured the workers that detailed information from “2010 till yesterday money accruing to the temporary pension fund account with the bank of Ghana and with the NPRA, government will make full disclosure of it.”

He said one of the major anchors of President Mahama is transparency and so he [the President] will in no way temper with pension income security of any Ghanaian worker.

Source: Suraya Alidu Malititi | kapital971.com

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