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01.05.2019 Business & Finance

Akufo-Addo Orders Minister, SSNIT To Resolve Pensions Issues By July

Staff Writer
Business Akufo-Addo Orders Minister, SSNIT To Resolve Pensions Issues By July

President Akufo Addo continued, “It also includes the building of two new foundries and two machine making factories and the completion of NVTI headquarters. We have also got parliamentary approval for all 10 Technical Universities and Technical Institutes to be re-equipped, retooled and rehabilitated.”

President Akufo-Addo encouraged government’s social partners, employers and enterprise owners to comply with existing pension regulations and support their staff to contribute to pension schemes.

“We should all spread the news about the importance of pensions and the structures in place to ensure transparent and effective management of pension funds,” he added.

Towards the payment of arrears owed SSNIT, President Akufo-Addo indicated that “I am informed that the Ministry of Finance has arranged for the payment of ¢200million and a bond of ¢700 million towards the retirement of the arrears owed to SSNIT. This will leave arrears of ¢800 million which will be included in next year’s budget.”

Social Partnership Council

Reiterating government’s determination to consolidate further its relations with the social partners, in the post-IMF era, President Akufo-Addo noted that a landmark social partnership agreement with Organised Labour represented by the Trades Union Congress, the Ghana Employers’ Association, has been signed.

This, he explained, is to provide a medium for building a sense of cohesion, trust, self-management, frank and open discussions to champion the course of development towards realising the vision of a Ghana Beyond Aid.

“Government is committed to a new social contract that promotes social dialogue in economic management and in the making of public policy. It is also to assure you, our workers and businesses, that you are our true development partners, and your ideas are critical in my Government’s model for economic management and development,” he added.

President Akufo-Addo revealed further that a Social Partnership Council with equal representation from the three social partners will be inaugurated soon.

“I am very confident that this new approach to economic management and public policy-making will foster even greater cooperation and trust among our Partners. Together, we can achieve a more stable economy, peace at the labour front and prosperity for the good people of Ghana,” President Akufo-Addo added.

— Myjoyonline