The Ghana Medical Association has accused government of attempting to usurp the powers of the National Pensions Regulatory Authority (NPRA) by regulating the management of the tier-two pension contributions of public workers.
About twelve (12) labour groups are currently on a nationwide strike to force government to pay their tier-two pension into a privately managed account by the unions.
But government has described the decision as “unlawful” and “unnecessary” claiming that over Ghc440 million is with the Bank of Ghana and is yet to be disbursed.
[contextly_sidebar id=”UqYQqqavrp6PzzVqxvGjyVaZA6bQyBfa”]Speaking on the Citi Breakfast Show, the Deputy General Secretary of the GMA, Justice Duffo Yankson said the NPRA had the capacity to regulate activities of the fund and opposed claims made by the Employment and Labour Relations Minister.
According to the Minister of Labour and Employment, Haruna Iddrisu “the President has a duty and responsibility to protect the fund against any risks.”
Justice Duffo Yankson argued that the NPRA is the body mandated to have oversight responsibility when it comes to pension.
“They are the regulators, each scheme, fund manager, custodian, administrator, is supposed to give periodic reports to them. They have the capacity to ensure that the listed investments portfolios are followed. Anybody who errs will be sanctioned so the oversight responsibility has already been given to the NPRA. It is not with the minister or the president,” he insisted.
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By: Godwin Allotey Akweiteh/citifmonline.com/Ghana