The government of Ghana has announced that teachers who are posted to schools in rural areas will be provided with incentives to motivate them to put in quality work. This was revealed by Information Minister Mustapha Hamid who added that government was prioritising the welfare of teachers in order not to compromise the quality of … Read more
Some basic school teachers in the Ho municipality of the Volta region are angry with managers of the Teachers Fund for increasing their monthly contributions to the fund without consulting them. The fund, run by the Ghana National Union of Teachers (GNAT), last week sent an SMS to members informing them of an increase in … Read more
Government has commenced the payment of the tier two pension contributions of public sector workers into their registered schemes. Twelve labour consisting of the Ghana Medical Association, the Ghana National Association of Teachers, the Civil and Local Government Staff Association among others, laid down their tools, fighting the erstwhile Mahama-government to pay up, after several … Read more
Government has commenced the payment of the tier two pension contributions of public sector workers into their registered schemes. Twelve labour consisting of the Ghana Medical Association, the Ghana National Association of Teachers, the Civil and Local Government Staff Association among others, laid down their tools, fighting the erstwhile Mahama-government to pay up, after several … Read more
Figuring out how to get rich, make lots of money and earn a comfortable living, is no rocket science in the world we live in… The uncertainties and indecision that come with the 20s age can really not be overemphasized. In the world of today, becoming a hardworking millionaire or being up to 10 million rich, … Read more
The National Pensions Regulatory Authority (NPRA) has disclosed that it should be able to release locked up pension funds in the Temporary Pension Fund Account (TPFA) by June this year should the Administrators of the Public sector funds complete the processes of validation. According to the NPRA, the reconciliation of employee data must be completed … Read more
The Public Services Workers Union (PUWU) is advocating for the use of workers’ pension funds to finance the nation’s power production sector. This, in PUWU’s view, could present an alternative to government’s plan to list the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) on the stock exchange as part of its master plan … Read more
The National Pensions Regulatory Authority (NPRA) has disclosed that it should be able to release locked up pension funds in the Temporary Pension Fund Account (TPFA) by June this year should the Administrators of the Public sector funds complete the processes of validation. According to the NPRA, the reconciliation of employee data must be completed … Read more
If we were taught certain key lessons about money and personal finance during childhood, we probably would have been millionaires by now! Yes, millionaires. Remember when we use to get some pesewas for cleaning rooms, running errands and so on. What about getting the cedi notes for giving direction to strangers and doing many other … Read more
The Bank of Ghana has, today, released its latest data on Annual Percentage Rates (APR) of interest charged on loans and credit advances and the Average Interest (AI) paid on deposits by banks. The data is based on figures available as at 31st January, 2017. According to the data, the industry average base rate as … Read more
Have you needed to use your high school chemistry recently? Anyone asked you lately who won the US-British war of 1812? Probably not. But have you taken out a loan to purchase a car or a house or go to college? Looked for a job? Got a credit card? Seen your paycheck disappear more quickly … Read more
Under the National Pensions Act, 2008 (Act 766), the Social Security and National Insurance Trust (SSNIT) is mandated to manage the 1stTier Pension Scheme also called the Mandatory Basic National Social Security Scheme which incorporates an improved system of SSNIT benefits, mandatory for all employees in both the private and public sectors. Under this arrangement … Read more
At the latter part of last year, an amount of GH¢559.04 was approved by the then outgoing Mahama-led government and was to be paid to National Service Personnel as monthly allowance starting January 1, this year. But Service Personnel who trooped the banks for their January allowance were left disappointed as there was no increment … Read more
Cooling inflation, positive consumer sentiment and an expected rebound for the economy should underpin a strong performance for Ghana’s retail sector in 2017. In its monetary policy committee (MPC) statement for November, the Bank of Ghana (BoG) reported a drop in inflation over the year, from a peak of 19.2% in March to a 28-month … Read more
The Auditor General is validating the pension of some labour unions in the country to enable their fund managers receive the monies on their behalf. The Finance Minister Seth Tekper confirmed this in an interview on the Citi Breakfast show on Friday [November 25]. Some labour unions in the country including the Ghana National Association … Read more
Government, on Monday November 21, 2016, transferred September Tier-2 pension monthly deductions to the custodian banks of Public Sector Occupational Pension Schemes. Consequently, the 12 labour unions have put on hold their threat to embark on nationwide industrial action. A statement issued yesterday by Isaac Bampoe Addo, Chairman of the Forum For Public Sector Registered … Read more
IT appears government has no money to pay six years accumulated tier-two pension money owed public sector workers. An emergency meeting summoned at Flagstaff House yesterday by President John Dramani Mahama to avert a strike action by 12 labour unions ended inconclusive. Sources familiar with what transpired at the meeting yesterday, told The Finder that … Read more
Open letter to SSNIT, NPRA and all contributors under Act 766 of 2008 It has been six years since the implementation of the Three Tier Pension Scheme Act 766 of 2008. When is Social Security and National Insurance Trust (SSNIT) going to transfer the four per cent (lump sum portion or accrued contributions) of Act … Read more
The central bank has said it will roll out a nationwide digital financial education programme to educate Ghanaians on digital financial service to enhance security of the service and products offered by banks and reduce fraud. Speaking at the 6th Annual General Meeting of the Ghana Association of Savings and Loans Companies, Dr. Johnson P. … Read more
Aside the difficulty in getting guarantors, students are running away from the Students Loan Scheme due to rising graduate unemployment, as they are not sure they can land jobs immediately after school and start paying off the loan. Debtors of the Student Loan Trust Fund have a one-year grace period when they leave school, which … Read more