GNAT Warns Government to Keep Pension Funds Out of Debt Restructuring

Thomas Tanko Musah, the General Secretary of the National Association of Teachers (GNAT), the association will stand firm on its agreement with the government to exempt their pensions from any debt restructuring program. Mr. Musah emphasized that GNAT members are not aware of any alternative offers from the government that would allow trustees to include pension funds in the debt restructuring program.

In a letter, the Minister of Finance, Ken Ofori-Atta, had urged the Board of Trustees of pension funds to consider including such funds in the proposed debt restructuring offer following several engagements.

However, Mr. Musah clarified in an interview on Eyewitness News on Citi FM that a distinction needs to be made between organized labor and the various schemes that make up organized labor, so as not to mistake a scheme’s statements for the position of organized labor.

“It is important to note two things: first, there is a distinction between organized labor and individual schemes. For instance, if a union leader engages in negotiations or discussions with the government, they do not represent organized labor but rather their specific scheme. Second, to the best of Mr. Musah’s knowledge, organized labor has not had any discussions with the committee regarding any haircut or a second round of negotiations. Therefore, the individuals who engaged with the committee did so in the name of their scheme and cannot speak on behalf of organized labor”.

“If a person goes to engage with the government in the name of their scheme, they cannot speak for organized labor. This is because the agreement between the government and organized labor is binding on the entire body, and no individual can engage in discussions on behalf of organized labor without first consulting with the body that made the decision.”

SOURCE: Coverghana.com.gh