The Upper East Regional branch of the Local Government Staff Association, Ghana (CLOGSAG) has expressed its displeasure at the appointment of the Pensions Alliance Trust (PAT) Limited to manage its Tier two Pension Scheme.
A press release signed by the Regional Chairman of CLOGSAG, Mr Paul N.A Agoo and copied to the GNA office in Bolgatanga, said CLOGSAG during its quadrennial conference held in Cape Coast in January 2011, decided to privately manage the Tier two Pension Scheme for its members and this led to the registration of the Pension Trust known as the "Hedge Pension Trust".
This Trust, it said, was issued with a certificate from the National Pension Regulatory Authority on the 18th of June 2012.
The release said it was a worrying development when members of the Association were not consulted by the Minister of Finance and Economic Planning before the decision was made to appoint PAT to manage the Tier two Pension Scheme.
"Our observation is that this action by the Minister of Finance and Economic Planning, in appointing a trustee for CLOGSAG without taking into cognizance that the Association had registered the Hedge Pension Trust, is unilateral and an imposition that is not backed the tenets of the National Pension Scheme Act 2008, Act766 and the Labour Law".
It said CLOGSAG should not be made to suffer the same unfairness, inequalities and inconsistencies that have characterized the Single Spine Salary Structure saying we the Upper East Regional branch of CLOGSAG are demanding that the Minister immediately abrogate the contract between the Ministry of Finance and Economic Planning and the PAT.
The release said the CLOGSAG members in the Upper East Region will advise itself if nothing is done to resolve the issue