Trade Union Congress (TUC) and its affiliate national unions told the government to exempt the pension funds of its members from the Domestic Debt Exchange programme.
In an official letter signed by Dr. Yaw Baah, Secretary General of TUC, the Congress said they have extensively scrutinized the Domestic Debt Exchange Programme which was launched on 5th December 2022, and decided on a way out.
“We have come to a firm conclusion that the programme will negatively affect the pension funds of our members and, consequently, their retirement income security,” Dr. Yaw Baah added.
Further, he added that the Trades Union Congress (TUC) and its affiliate national unions have, therefore, decided that the pension funds of its members will not be part of the Domestic Debt Exchange Programme.
However, they are per the letter demanding that all pension funds invested in government bonds should be completely exempted from the Domestic Debt Exchange programme.
On the other hand, they gave a week as an ultimatum for government to publicly announce that all pension funds, including SSNIT, are exempted from the programme.
Failure on the side of the government to accede to their demand will push them to advise themselves.