The Teachers Fund owned and managed by the Ghana National Association of Teachers (GNAT), needs to be reviewed to ensure it provides a better retirement package for members of the union.
Review Teachers Fund for a better retirement for teachers
This call was made by former President of the Ghana National Association of Teachers (GNAT), Mr. Alexander Mawusi Buadi.
He suggested that the Teachers Fund benefits should consider an upward review of member contributions to enable the fund to provide a better pension for members on retirement.
The Teachers Fund was instituted in 1998 to serve as a supplementary pension scheme for GNAT members.
He said the numerical strength of GNAT is an advantage that the Teachers Fund must tap into it offer the best of the lot to teachers who are on retirement and in active service as well.
Mr. Alexander Mawusi Buadi made the call during the sixth Quadrennial Ho District Delegates Conference of the association in the Volta Region.
He added that teachers who belonged to the union deserved to enjoy value-added benefits; if the fund is properly managed, could be transformed into a Teachers Bank to offer support to members, he added.
“After many years of service, the teacher must enjoy a decent life to the full. Leaders must continue to press home for better pension. Today, nobody knows how pension calculations are done — where are our past credits? Are they still with the government, SSNIT or GLICO?” he asked.
He described the current pension scheme in Ghana as a “Killer” scheme that does not favour pensioners hence the need for the Teacher Fund to be made more competitive through innovative thinking and strategies
He applauded GNAT for establishing a cancer fund, along with the sourcing for a centre that to be transformed into a hospital for members.
In a related development, the Ho West Education Director, Celestine Korsi-Agordo, called on teachers to contribute to the Teachers Fund so as to enjoy the welfare benefits it provides. This she believed will further help teachers avoid throat-cutting financial institutions.
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At the conference, ten (10) new executives were elected and charged to lead the Ho District of GNAT.