[ 2014-10-31 ]

Osei Kyei Mensah Bonsu, Minority Leader

Mahama's gov't is not truthful ... Tier two pension fund was used to buy Merchant Bank
The Minority Leader in Parliament, Hon. Osei Kyei
Mensah Bonsu, has stated emphatically that funds
used by Fortiz to purchase Merchant Bank were made
available to them by the Bank of Ghana from the
second Tier Pension fund.

“If the Bank of Ghana says the second tier fund
is with them they should come out and tell us when
the money hit that account and its quantum...This
government is not being truthful, this John
Mahama’s government has never been truthful to
Ghanaians,” he said emphatically.

He added;“..I am saying this unequivocally that,
it is this same money they have given to some
people to buy Merchant Bank. It is the workers’
money they used and that is the truth. If the
government says the money is in the Bank of Ghana,
then, they should come out to tell us which
account the money is in and the quantity”.

In the past few weeks, public sector workers have
been demanding to know where their pension fund
have been lodged, how much has been accrued and
who are behind the Pensions Alliance Trust, the
company government appointed to manage the tier
two pension fund on behalf of the workers.

In their anger, 12 public sector workers' unions,
declared an indefinite strike, bringing the
country's education and health sectors on their
knees.

Employment Minister Haruna Iddrisu in an attempt
to assure the workers that their monies are safe,
said a total of 440 million cedis had accrued to
the fund.

Funds under the controversial Tier Two pension
scheme have grossed ¢1.64 billion, Chief
Executive of the National Pensions Regulatory
Commission has also revealed.

Laud Senanu said the figure represents
contributions from the public, private sector
workers as well as the investment component.

Nonetheless, Hon Osei Kyei in an interview with
Sunyani based Ark Fm on Thursday was convinced
that government is only deceiving the workers and
"bidding for time" as it solicit for funds
somewhere to replace the used money.

Per the Pensions Act, five per cent of the
workers' salary has to be deducted into a tier two
pension scheme whilst the employer contributes 13
percent to SSNIT.

The new law was passed in 2008; with the year of
implementation being 2010.

The first batch of contributors under the tier two
pension scheme are supposed to retire in 2015 and
the workers want to be assured that their
contributions are safe and sound before they go on
retirement.

Source - Peacefmonline

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