By: Bright Kofi Agamah
The Trades Union Congress, TUC says government has a one-week ultimatum, to publicly announce the complete exemption of all pension funds, including SSNIT, from the debt exchange programme. It says, failure on the part of government, to make that public declaration, will compel labour unions to advise themselves. The TUC Secretary General, Dr. Yaw Baah, stated this at a news conference in Accra today, December 12, 2022.
According to the TUC Secretary General, a letter has been sent to the Minister of Finance, telling him that the debt restructuring programme, will adversely affect pension funds and retirement income security of workers.
‘After a thorough analysis of the Debt Exchange Programme and extensive discussion of its implications, we have come to a firm conclusion that the programme will negatively affect pension funds of our members and, consequently, their retirement income security. Therefore, the Trades Union Congress (TUC) and its Affiliate National Unions have decided that the pension funds of our members will not be part of the Domestic Debt Exchange Programme.” He stated.
Dr. Baah indicated that on the 19th of December, TUC and its affiliates will hold another media engagement on the update on their demands on government not to touch the pension funds. He said, if no positive response is received from government, then all workers should be ready to join any action that will be called by the TUC after its General Council meeting.
“All workers must be ready to participate fully in any industrial action to protect our pension funds. Workers will no longer bear the consequences of any IMF-inspired or IMF sponsored policies and programmes. Government is responsible for all the consequences of its decisions, including the decision to seek IMF bailout.”
On the issue of government not paying pension contributions of more than 600, thousand public sector workers, since February this year, the TUC demanded the immediate payment of the contributions without further delay.
Turning to the 2023 Budget, Dr. Baah, urged government to reduce the number of ministerial portfolios and expenditures to revive the ailing economy.
“We take this opportunity to reiterate our demand for immediate and radical downsizing of government. This exercise must include a substantial reduction in the number of ministries and ministerial portfolios. These measures are needed now to assure the Good People of Ghana that government is doing its part to reduce expenditures”, Dr. Baah added.
Below is the video;