[ 2014-10-30 ]

We have credibility; Gov't did not err in selecting us- Pensions Alliance
A management member of the Pensions Alliance
Trust-the company managing the tier two pension
fund of public workers- has dismissed speculations
the company is being micromanaged by government.

Philip Dela Zumanu says the Alliance Trust is
owned and competently managed by private Ghanaian
citizens who were selected on merit with no links
to government.

He dared critics to proceed to the Registrar
Generals Department to find the names behind the
Pensions Alliance Trust.

Government has come under extreme pressure from
striking public workers to follow due process of
law by handing over the tier two pension funds to
trustees and fund managers to be selected by the
workers.

At present, the Pensions Alliance Trust has been
selected by government to manage the tier two
pension funds on behalf of workers .

The workers are angry, describing government's
action as unnecessary imposition on them.

Some critics are even alleging that managers of
the Pensions Alliance Trust are close associates
to government officials- an allegation Dela Zumanu
has been quick to dismiss.

Explaining how government won the bid to manage
the funds, Mr. Zumanu said five private fund
managers presented competitive bids to government
for consideration.

After careful scrutiny, he said the Alliance Trust
was selected by government because it has"
credibility and systems to deliver on its
mandate."

Mr. Zumanu also dismissed claims that government
erred in selecting them to manage the funds on
behalf of workers.

He said under the law, it is the duty of the
employer, public and private, to select the fund
manager to manage the tier two pension scheme on
behalf of the employees. That is what government
has done as the employer of public sector workers
he hinted.

Source - Joy News

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