GNAT announces mutual fund basic contribution increament, key changes effective January 2024

The Ghana National Association of Teachers (GNAT) has announced its famous mutual fund, effective January 2024. According to GNAT, members’ monthly basic contributions will rise to GHS100.00. The move, according to GNAT, is to help the fund “enhance the retirement supplement of members.”
It also announced that, effective 2024, members would not have to look for guarantors to help them secure loans and not witnesses, as has been the practise.
A personal loan of GHS20,000 will attract a monthly contribution of GHS20.00, while those seeking an investment loan would have to make a monthly contribution of GHS250.00.
GNAT’s habitat loan for members seeking to build their own houses will not exceed a loan of GHS 35,000, while the corresponding contribution would be GHS 300.00 per month.
Find below more details as contained in the latest update and a notice served by GNAT dated December 13, 2023.
1. Loans would not have witnesses anymore. Loan seekers will need guarantors instead.
2. When one exits and comes for reinstatement, he or she can pick up a loan after making a 12-month contribution.
3. Our basic monthly contribution moves to GHC 100.
4. If one wants a personal loan of GHC 20,000, the monthly contribution should be GHC 200.
5. Investment loan greater than GHC 35,000 The monthly contribution should be GHC 250.
6. If the habitat loan is more than GH¢35, 000, the monthly contribution should be GH¢300.
GNAT Mutual Fund: Secure Your Future, Empower Your Dreams
Are you looking for a secure, reliable way to grow your wealth and build a brighter future? Look no further than the GNAT Mutual Fund, a teacher-centric investment option offered through the Ghana National Association of Teachers (GNAT).
Here’s why the GNAT Mutual Fund should be your financial partner:
- Safe and secure: The Fund is managed by professional investment experts, ensuring your contributions are carefully invested and protected.
- Flexible contributions: Choose a contribution amount that fits your budget, with options for automatic deductions from your salary or one-time lump sums.
- Compounding returns: Watch your money grow over time with the power of compounding interest, leading to a substantial nest egg for retirement or other goals.
- Financial security: Build a safety net for unexpected expenses or emergencies.
- Retirement planning: Supplement your pension and enjoy a comfortable retirement lifestyle.
- Supporting the teaching community: Investing in the GNAT Mutual Fund strengthens the teaching community and contributes to the development of education in Ghana.
READ: The SHS Resolution Centre at GNAT Resolves Major Complaints
More than just finance:
The GNAT Mutual Fund is more than just an investment; it’s a commitment to your financial future and well-being. By joining, you gain access to financial literacy workshops, seminars, and resources to help you make informed decisions about your money.
Take the first step towards your financial freedom:
Contact your local GNAT branch or visit their website to learn more about the GNAT Mutual Fund and how to start investing today. Secure your future, empower your dreams, and join the growing community of teachers building a brighter tomorrow.
Invest in yourself, invest in your future, invest in the GNAT Mutual Fund!