Striking public sector workers have been assured by government that workers due pension January 1, 2015, will be receiving the full lump sum of their pension entitlement.
Minister of Employment and Labour Relations, Haruna Iddrisu said: “Every pensioner should be assured that his money is secure and safe. The government remains the guarantor; the government remains responsible and will grant further the payment of those whose retirement benefit is due as of January 1, 2015.”
This will be the first batch of workers that will benefit from the National Pension Act 2008 (Act 766).
Labour, in embarking on its strike, had maintained that what was most frustrating about the implementation of the tier-two pension was that the first group of beneficiaries was in the dark as to where to claim their second-tier benefits.
“I can assure you that it will not be to the disadvantage of any employee. They will get better than they would have received under the Social Security and National Insurance Trust (SSNIT) scheme,” he said.
Presently, there are reports that GH¢450 million has accrued from the contributions of members of labour groups lodged in a special escrow account at the Bank of Ghana.
Mr Iddrisu hinted that government intends to amend the National Pensions Regulatory Authority (NPRA) Act in order to deal with past credit and what would go in as accumulated benefits as part of the broad request made by labour to the government.
“The government agreed that we will do a review of the act to accommodate the concerns that they (labour groups) raised.”