Take your hands off pension funds – Akufo Addo to gov’t –

The New Patriotic Party’s (NPP) Presidential candidate, Nana Akufo-Addo has asked government to disengage itself from handling the tier two pension funds of public sector workers if it does not have the capacity to do so.

There has been a protracted standoff between government and twelve labour unions who demanding that government releases their pension contributions into a privately managed accounts.

Funds deducted since the introduction of the scheme is being held by government and the two are currently in court over who should manage the funds.
But speaking at 2nd edition of the Aliu Mahama Memorial lecture on the theme One Ghana,Securing the Future, Akufo Addo said : “let government take its hands off the pension funds”
He described the brouhaha surrounding the pension funds as a sad development, saying “securing the future is about insuring our workers a decent pension after retirement. It has been a sad spectacle, watching the recent struggle over the two tier pension between government and the unions.”

According to him, “the National Pension Act was introduced by the New Patriotic Party because it saw the need to secure a better future for pensioners and get a critical mass of capital into the money market for long term investment.”

“It was enacted to compliment the work of the Social Security and National Insurance Trust. The way forward in the current and past is self evident, “ he added.


Source: Citifmonline.com

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