Teacher Unions “HOT” GES over (GESOPS) for teachers Occupational Pension Scheme

Teacher Unions “HOT” GES over (GESOPS) for teachers which were deducted but never invested for teachers.

Teacher Unions in Ghana are threatening to take action against the Ghana Education Service over the failure of the Controller and Accountant General to pay the Occupational Pension Scheme (GESOPS) deductions to fund managers for it to be invested on behalf of teachers.

The latest letter from the teacher unions to the Ghana Education Service indicates that the unions will not act to restrain members from any action.

The Teacher Unions have given the GES up to February 26th, 2021 to pay the full amount owed to the Scheme.

We hereby serve this notice, that if by the close of work Friday, February 2016,2021, the full amount indebted to our scheme is not paid, we cannot restrain our members, and whatever happens in the industrial environment, the CAGD should blame itself. The press statement said.

The communique was signed by the leaderships of GNAT, NAGRAT and CCT-GH

Here is what you need to know about GESOPS

The Ghana Education Service Occupational Pension Scheme (GESOPS) is a Tier-2 pension scheme registered and regulated by the National Pensions Regulatory Authority under the Pensions Act, 2008, (Act 766) as amended. The Scheme’s membership is drawn from employees of the Ghana Education Service, with members belonging to one of the Unions in the educational sector.

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GESOPS is managed by a Board of Trustees with representation from relevant institutions such as the Ministries of Education, Finance, the Attorney General’s Department, the various Unions, and an Independent Trustee. Like all Tier-2 Pension Schemes, GESOPS receives five (5) out of the 18.5% monthly social security contributions made on workers’ behalf.

Source: Ghanaeducation.com