The Teachers and Education Workers’ Union, TEWU of the TUC, has assured members that it will diligently work under the laws of the Pensions Regulatory Authority Act, to ensure pension funds are safe.
A statement by its General Secretary, Augustine Karbo, said TEWU is not leaving anything to chance in ensuring that there are prudent investments of the Tier-Two pension funds.
This is to ensure that members, who retire by January 2020, benefit from the Tier-Two Pension money without any hitch.
TEWU says government’s decision to change the service providers, is becoming a tussle between the new service providers and those who are exiting, adding that the situation is not a good sign for the pension industry in the country.
It is therefore calling for governance issues, on the pensions of its members, relating to transitions from one service provider to the other, to be resolved smoothly, so that it does not unnecessarily interrupt the funds operations and the investments.