GOVERNMENT SUCCESSFULLY TRANSFERS 3.1 BILLION TO RESPECTIVE SCHEMES
The Minister for Employment and Labour Relations, Hon Ignatius Baffour Awuah, has announced the successful transfer of GH₵3.1 billion that government owed workers into the various public sector schemes of contributors.
According to the Minister, the transfer follows the directive by H.E, Nana Addo Danquah Akuffo Addo, to the Ministry and Labour Unions to ensure the smooth payment of Tier 2 pension benefits.
The amount which forms part of the Tier 2 contribution of workers was held in a Temporary Pensions Fund Account (TPFA) at the BoG.
The Minister revealed this when he took his turn at the Meet-the-Press Series on Thursday 15th August, 2019 at the Ministry of Information Press Centre.
Hon. Baffour Awuah said efforts are being expedited to bring all matters arising out of the TPFA transfer including Data Reconciliation of beneficiaries to a logical conclusion.
In another development, Hon. Baffour Awuah also revealed that a total of Six Hundred and Eleven Thousand, Three Hundred and Ninety-Seven (611,397) new jobs have been created by the formal sector. Out of this figure, the Minister said Three Hundred and Forty Three Thousand, Four Hundred and Fifty-Eight (343,458) new jobs were created by Ministries, Departments and Agencies (MDAs) whilst the formal private sector created Two Hundred and Sixty-Seven Thousand, Nine Hundred and Thirty-Nine (267,939) new jobs.
As part of the ongoing transformation process on pension related issues, Hon. Baffour Awuah, announced that the duration for the processing of pension payments to beneficiaries has reduced from 30 days to 17 days and is paid mid-month. The transformation process has also led to the deletion of Six Thousand, Three Hundred and Eleven (6,311) “ghost” pensioners from the SSNIT payroll, saving the Trust over GH₵43.8 million as at the end of May 2019.