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Business News of Monday, 14 March 2016


Gov’t agrees to pay labour tier two pension cash

Government has agreed to allow the twelve labour unions who were demanding the payment of their tier two pension contributions, to run their registered schemes.

The unions in 2014 embarked on series of demonstrations to demand the payment of their tier two pension contributions into their registered schemes, but government rejected their demands citing some security concerns.

Government in the process sent the unions to court but the two parties later agreed on an out of court settlement. Confirming the agreement to Citi News, Public Relations Officer of the Civil and Local Government Staff Association of Ghana (CLOGSAG), Edmund Acquaye, further explained that the court has validated the agreement between the parties.

“Government is going to allow the schemes to work. We are looking forward that we will inaugurate the board of trustees to each scheme which are in the pipeline. We believe that labour is prepared; CLOGSAG in itself is also prepared to meet those timelines and to comply with the terms of the agreement.

So that is what we are looking forward from government on their part to comply.” “After the terms of agreement were put on paper, we went to the court for the court to adapt it as a working document and that has been done,” he added.