Teaser: Do you know GNAT retirees would also benefit from the cancer fund and it’s one basis the cancer fund was increase to 5ghc?
1. Any other union member close to pension (say about 1 or 2 years left) would only switch to GNAT to enjoy the retirement cancer treatment just like those who spend their whole career as a GNAT member paying higher GNAT dues
2. GNAT gives about 2500ghc to it’s retiring members. Other unions members only need to switch to GNAT at the last minute to pension to enjoy this 2500ghc without contributing GNAT dues over the years.
3. Any other union member sensing cancer dander can just switch to GNAT within six months to benefit. These group of people would only be going for routine cancer check-up to avoid late diagnosis
4. Current GNAT members who take GNAT loans and exit GNAT later to other unions would make the loan deductions to continue but the mutual fund contributions would stop. The stoppage of the mutual fund contributions would make their affordability to increase which they can use to take another loan from elsewhere or they can push into savings (databank MFund which deducts from source) or tier 3 pension (which gives tax waivers on the amount saved) or even spend it
Interestingly, when the person returns without collecting his/her previous contributions, on the return of the person, he/she can easily/quickly access another loan for the cycle to continue
A suggested solutions to the above situations would follow later
By: Vincent Agbenyo (A Volunteer)