Kumasi, May 13, GNA- Government is to spread the payment of the 122.6 billion cedis arrears to pensioners within the period of three months.
The arrears was accrued as the result of the upward review of pensions approved by the Government in October 2002, but could not be paid due to economic constraints. The first monthly payment of 40.9 billion cedis will be made this month (May) while the balance of 81.8 billion cedis will be spread between June and July.
Mr Emmanuel O. Ashley, National Vice-Chairman of the Ghana Pensioners Association said this was the outcome of a meeting between the Ministry of Finance and Economic Planning and executive members of the Association.
He was addressing a meeting with the Ashanti Regional Executive Council of the association during a two-day official tour. Flanked by Mr Winfred Sackey Addo, Deputy National Secretary and Mr A.A. Aboagye, National Treasurer and Budget Officer of the association, Mr Ashley urged the members to have confidence in the ability of Government to pay the arrears.
Members of the association had threatened to demonstrate in protest against non-payment.