28 Oct '14

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Mr Gbeetsatsu Abbey challenges the Leaders of Labour

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Let’s ask the question whether the private schemes and the professionals making the noise have been able to design attractive, financially viable and pensionable private schemes to attract the additional 16.5% tax deductible funds from contributors. The total pie under the three tier pension scheme is a total of 35% ( 18.5%/16.5%).

Employer contributes 13% and the employees are supposed to do 22%( 5.5% partT2/16.5% T3) of their salaries. No one is helping them including the big mouth talking politico professionals to save this 22% which is a bigger pie than part of the 5% they are going on strike for.

Leaders of labour and the financial bodies please let’s stop this politics with the pensions of my nshonaa folks and focus on the bigger T3 through the designs of private pension schemes. Let me hear a pension fund manager or a corporate trustee who have come out with a good scheme for the T3. They are running away from it and using the unions to take the low hanging one.

Government has given the private sector a bigger chunk of the pension cake ( 13.5% vrs 21.5%). Who says government want to control pensions. We are lacking professionals in the industry and unfortunately many are now politicians.

The current situation has come as a result of mistrust of the government and others are using it to create thought leadership on FB when they don’t know jack and cannot claim to have achieved anything professionally in that field of pensions.

Arise Ghanaian professionals and labour unions for your pension, the future demands your devotion now, let’s all unite to uphold the 3 Tier pension scheme and make it work.

Please seek professional advice and fight this better than what your leaders are using you to do.

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