The President, Nana Addo Dankwa Akufo-Addo has assured public sector workers that, government through SSNIT, would pay the difference in the lump sum payments for those retiring in 2020, who fall within the months of 1st January 2020 to 31st December 2020.
The President made this announcement today, Tuesday, 13th October 2020, at the commissioning of the refurbished Hall of Trade Unions of the Trades Union Congress (TUC) in Accra, where he assured that, government will resolve the issue of past credit for public sector workers who retire from January 2020.
He told the gathering that, he referred the matter to the Senior Minister, Hon. Yaw Osafo Maafo, who, after careful studies and deliberations, has laid out the position of Government in this matter.
“Indeed, 2020 marks the transition year where all public sector workers, retiring under the Three-Tier Pension Scheme, are having their pensions paid under the National Pensions Act, 2008, Act 766.”
He said that, even though Act 766 clearly offers higher monthly pensions and better lifetime benefits to workers compared to the erstwhile PNDC Law 247, some workers may receive a lower lump sum made up of the past credit paid by SSNIT and the Tier-2, compared to that paid under PNDCL 247.
He added that, a committee will be established to supervise the implementation of this decision to ensure that equity prevails and no pensioner is made worse off.
Speaking on the refurbishment, he said that, the refurbished hall is a fitting and proper tribute to the memory and work of the leadership of the TUC of yesteryear and today’s leaders such as Joe-Fio Meyer, John Tettegah, B.A Bentum, A.M Issifu, A.K. Yankey, Christian Appiah Agyei, Kwasi Adu Amankwah and Kofi Asamoah.
“Indeed, the state of the Hall of Trade Unions, at the time of my visit in 2016, and in the early years of my administration, would have made the likes of Pobee Biney, Vidal Quist and their successors very sad.”
He appreciated the efforts and sacrifices the TUC had made towards the construction of a happy and prosperous Ghana and stated that, it was as a result of their works that, when government received the request from the leadership of the TUC to assist it refurbish the hall, it did not hesitate.
He further said that, he has been informed by the Minister for Finance that, government’s contribution to the refurbishment was GH₵12.7 million.
“I am glad to state that the relationship between government and Organised Labour has been one of cordiality, co-operation and mutual respect. I continue to be reassured by the determination of Organised Labour and its leadership to rally behind government to create a progressive nation, buoyed on by faster economic growth rates, and driven by the quest for decent jobs.”
He further noted that, he has been heartened by this, and is determined, for as long he remains President of the Republic, to continue even more firmly on this path of co-operation and collaboration on which we have embarked to the benefit of the working people of our country.
