The Civil and Local Government Staff Association, Ghana (CLOGSAG), has stated its opposition to any attempts by the Government to restructure the current pension arrangements under the Pensions Act, 2008, Act 766.
CLOGSAG emphasized that the contributory 3-Tier pension scheme has already started to yield positive results, and it is crucial to maintain the existing pension structure in the best interest of workers.
During a Thanksgiving Service in Accra to commemorate May Day, CLOGSAG called for the restructuring of the Social Security and National Insurance Trust (SSNIT) in accordance with the recommendations of the Presidential Commission on Pensions.
Dr Isaac Bampoe Addo, Executive Secretary of CLOGSAG, conveyed the association's support for the retention of Act 766.
“CLOGSAG is sending a warning to all forces, both visible and invisible, to steer clear of current pension arrangements as enshrined in the National Pensions Act, 2008 (Act 766). …We are enjoined to hold on steadfastly, passionately, and jealously guard and protect Act 766, which is yielding positive results,” he said.
Mr Addo highlighted that the Presidential Commission on Pensions, in its report, stressed that workers who contribute to the 3-Tier Pension Scheme would receive gratuities or lump sums comparable to or better than what is paid under Cap 30. The government subsequently endorsed the Commission's recommendations, leading to the enactment of Act 766.
“Let us be energized to continue the struggle for better conditions of service and to join hands with other unions to protect pension funds and schemes. Posterity would not forgive us if we don't succeed in this endeavour,” Mr Addo added.
May Day is an international holiday celebrated in over 80 countries, commemorating the achievements of the labour movement. It is also known as International Workers' Day.