The government’s newest alternative offer to include pension funds in the current debt restructuring has been rejected by the University Teachers Association of Ghana (UTAG).
According to the administration, the move to include pension funds in the program aims to both properly compensate the pension funds for the value of their current holdings and ease the government’s cash flow problems in the upcoming years.
But, UTAG claimed in a memo that any attempt to include pension funds in the debt restructuring program will put an undue burden on its already underprivileged members.
“We are still unable to participate in any intervention that would worsen the plight of the already impoverished Ghanaian University Lecturer. We therefore write to unequivocally reject the request to use our Pension Funds i.e GUSS, SSNIT and any other pension fund that affect our members for the new alternative proposed offer by government.”
“his request by the government comes after organized labour fiercely rejected the inclusion of pension funds in the Domestic Debt Exchange programme.
In its statement, UTAG stated, “We warn that governmental intransigence in this matter would not be countenanced as we are determined to fight to ensure that no one robs our members of their pension funds.”
Read the full statement below: