GNAT Cuts Teachers’ Fund Loan Interest Rate from 16% to 14% at 2026 Delegates Conference

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Ferdinand Ellis
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Top 5 reasons Teachers Need to Increase their Fund Contributions in Ghana
Top 5 reasons Teachers Need to Increase their Fund Contributions in Ghana

Ferdinand | EducationGhana | Jauary 10| GNAT Cuts Teachers’ Fund Loan Interest Rate from 16% to 14% at 2026 Delegates Conference

  GNAT has approved a reduction in the Teachers’ Fund loan interest rate from 16% to 14% at its 2026 National Delegates Conference, alongside other key welfare reforms.

 

 

By Ellis Ferdinand  

 

Teachers across Ghana are set to benefit from reduced borrowing costs following a major decision by the Ghana National Association of Teachers (GNAT) at its 2026 National Delegates Conference. Delegates unanimously approved a reduction in the Teachers’ Fund loan interest rate, cutting it from 16 percent to 14 percent, a move aimed at easing financial pressure on educators.    

Lower Interest, Greater Relief for Teachers

GNAT leadership explained that the interest rate reduction forms part of broader reforms to make the Teachers’ Fund more responsive to the economic realities faced by members. With many teachers relying on the fund for personal development, family needs, and emergency support, the decision is expected to significantly reduce repayment burdens.  

Strengthening the Teachers’ Fund

According to union officials, the interest rate cut was carefully balanced with measures to maintain the sustainability of the fund. Delegates stressed that affordable loans must go hand in hand with responsible fund management. The conference also endorsed reforms designed to expand access while protecting the long-term viability of the scheme.  

 

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Complementary Welfare Measures Approved

Beyond the loan interest reduction, delegates adopted several additional welfare resolutions, including:

  • An increase in the minimum Teachers’ Fund contribution from GH¢120 to GH¢150
  • A 100 percent increase in the Cancer Fund, from GH¢5 to GH¢10
  • Expansion of Teachers’ Fund loan categories to cover a wider range of member needs

 

 

Update on Pension Contribution Monitoring

Teachers were further advised to verify their GESOPS Tier 2 pension contributions using the short code *733#, following changes in fund management arrangements. Union officials said the move would improve transparency and help members track their pension records more effectively.  

A Union Response to Economic Pressures

Education observers say the loan interest rate reduction reflects GNAT’s response to rising living costs and increased financial strain on teachers. If effectively implemented, the decision could improve access to affordable credit and strengthen trust in union-managed welfare schemes.  

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