The Health Service Workers Union of TUC (Ghana) organised an emergency press conference on 4th December, 2022 to issue a stern warning to government against performing a “haircut” on their workers pension funds.
Their press conference held on the Sunday morning was a stern caution towards government not to embark on what they intend to do pertaining to the pension of workers in Ghana and for that matter members of the Health Service Workers Union (HSWU)
After the Finance Minister, Honourable Ken Ofori-Atta, presented the 2023 budget statement, a debt restructuring for domestic Bond holders in terms of interest payments emerged. In view of this, bondholders were to receive 0% interest rate in 2023, 5% interest rate in 2024 and 10% interest rate in 2025.
Leadership of HSWU mentioned that Bank of Ghana, Ministry of Finance and Economic Planning and other stakeholders held a meeting and have actually planned to implement the ‘haircut’ decision which also puts Pension fund of workers at risk.
They also added that members have over the years accumulated their pension for awaiting longer fertility rates where workers who may live longer than expected and will need to rely on their money they save now.
Workers also looked forward to optimize their standard of living and ensure a proper balance between spending and saving doing the different face of the alive.
The leadership of HSWU mentioned that the attempt to touch the pension fund in a quest to restructure debt means that government is tempering with the present and the future of workers who had the hope of sacrificing today to have a better future tomorrow.
Hence, they emphatically mentioned that they will resist any attempt by the government to cut anything from the pension of its members.
The leadership of HSWU took the opportunity to thank members for their sacrifices and always remaining calm in times like this and assured their members that they would do everything within their power to mount pressure on government until their pension funds are safe.
