Teachers in the Ghana Education Service (GES) have been denied benefits on their Investments in the Ghana Education Service Occupational Pension Scheme (GESOPS) for the past four months.
This was discovered by teacher unions after their checks with their Fund Board (GESOPS) revealed that, for the past four months, the Controller and Accountant General’s Department (CAGD) has not remitted monies due the teachers in the country to the Ghana Education Service Occupational Pension Scheme.
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This situation according to the Unions was denying teachers their investment benefits.
The three major Teacher Unions in the GES, namely the Ghana National Association of Teachers (GNAT), National Association of Graduate Teachers (NAGRAT) and the Coalition of Concerned Teachers -Ghana (CCT-GH),
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in a joint letter to the Acting Minister of Finance on February 3, 2021 cautioned, that if by close of the day, Monday, 8th February 2021, the said monies do not hit the fund Accounts, they the Teacher Unions have no option than to advice themselves and the CAGD would have itself to blame.
The Ghana Education Service Occupational Pension Scheme (GESOPS) is a Tier-2 pension scheme registered and regulated by the National Pensions Regulatory Authority under the Pensions Act, 2008, (Act 766) as amended. The Scheme’s membership is drawn from employees of the Ghana Education Service, with members belonging to one of the Unions in the educational sector.
GESOPS is managed by a Board of Trustees with representation from relevant institutions such as the Ministries of Education, Finance, the Attorney General’s Department, the various Unions and an Independent Trustee. Like all Tier-2 Pension Schemes, GESOPS receives five (5) out of the 18.5% monthly social security contributions made on workers’ behalf.
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