Teachers will retire poorer due to laptops & contradictions from union leaders…WE WILL ALL RETIRE POORER DUE TO THIS LAPTOP and the contradictions from our union leaders.
Teaser: Do you know the original interest charge by our pension managers on the 465ghc was 18.16% (making 549ghc deductions) but was reduced to 9.46% (making 509ghc deductions)_ because the pension managers were forced?. In short, the 18.16% interest charged on our pension money was reduced to 9.46% which is less than the inflation rate. So our pension managers can not maintain the value of our pension contributions let alone talk of making profit for teachers.
Teachers will retire poorer due to laptops & contradictions from union leaders becuase
1. The contract for the laptops was signed on 21st December 2020 yet our union leaders said they were following up on a promise by the government during the 2021 state of the nation address that was delivered on 9th March 2021 according to their press conference
2. According to the MoU on the laptop GES (government) is supposed to take 70% of the cost but 30% funding must be provided as pre-finance.
3. From the press conference, GES had an agreement with our pension managers to give them 30% to pre-finance the laptop at 18.16%. THIS IS WHERE THE FINANCIAL
ENGINEERING TRICK/ROBBERY OCCURRED
Qn a. Is the 30% share of loan taken by GES on behalf of Teachers or the Government?
Qn b. In the MoU/agreement GES was acting on behalf of the GOVERNMENT, so why would GES now be taking loans on behalf of teachers?
Qn c. Is GES allowed to take loans for teachers by force?
Qn d. So our union leaders are aware GES has taken loans for teachers by force and they even agreed teachers must pay the interest on the loan they union leaders do not agree to?
READ: 11 facts on how teachers unions scammed teachers (Laptop Wahala)
Qn e. Our union leaders participated in forcing our pension managers to reduce the interest they charged from 18.16% to 9.46% which is less than the inflation rate ( meaning our own contributions losing its value)
Qn f. The 509ghc deduction (30% principal of 465ghc + 44ghc interest) that was deducted, whose 30% is it? Is it our 30% deducted going to actually pay our part of the 30% or it’s going to pay the 30% loan taken from our pension managers?
Qn g. Is our 30% deducted going to pay the 30% share of the loan taken by GES from our pension managers? If yes, does that not mean GES took a by-force loan for teachers?
Conclusion:
When you look at this laptop or when we eventually retired with a meager lump sum pension, just know that we have already spent about 9% of that money because
Our pension managers were forced (by the government and our union leaders) to reduce their interest charged from 18.16% to 9.46% which is supposed to earn interest on itself through compound interest (remember compound interest can turn 10ghc into a million depending on the time available and rate.
NB: As predicted in my previous write on why this laptop issue must be cut in the bud, the prediction is occurring already
READ: Employ All University Diploma Holders – NCOPST petitions GES
Teachers will retire poorer due to laptops & contradictions from union leaders, do you agree or disagree? Share your thoughts by leaving a comment
By: Vincent Agbenyo (A Volunteer)