Reject the alternative offer from the government – Organized Labour to Trustees of Pension Funds

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The Board of Trustees of Pension Funds has been encouraged by Organized Labour to resist any attempt to enlist the client pension funds on the government’s new Proposed Alternative Offer as part of the debt exchange scheme.

After carefully examining a letter dated April 7, 2023 inviting the Board of Trustees of Pension Funds to take part in a New GOG Proposed Alternative Offer for Pension Funds, Organised Labour claims that it has come to the firm conclusion that it “amounts to roping pension funds back into the DDE Programme.”

This request, in the opinion of Organized Labor, “undermines the spirit and letter of the Memorandum of Understanding reached by the Government and Organized Labor.”

In its statement, Organized Labour reaffirmed its opposition to any attempts by the government to touch its pension funds.

Dr. Anthony Yaw Baah, secretary general of the Trades Union Congress, urged the government to uphold the terms of the Memorandum of Understanding (MoU) agreed on Thursday, December 22, 2022, during a news conference held at the Mensvic Grand Hotel in Accra on April 20.

Under an earlier Memorandum of Understanding, the government and Organized Labor agreed to exclude pension funds from the contentious domestic exchange program.

But despite a letter from the Finance Ministry urging pension scheme managers to accept a new offer, Organized Labor is having none of it.


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