UTAG Demands Greater Participation of Organized Labour in SSNIT Management

The University Teachers Association of Ghana (UTAG) has thrown its weight behind the organized labour movement’s demands for the immediate dissolution of the Social Security and National Insurance Trust (SSNIT) board and the resignation of its top management.

This comes as the results of the discontinuation of the sale of 60% shares in four hotels by SSNIT.

In a statement, UTAG expressed its support for the nationwide strike declared by organized labour and announced its intention to activate a nationwide strike as per the declaration by organized labour.

The association said that its decision was not taken lightly and reflects its deep-seated concern over the current handling of SSNIT’s investment interests and assets.

“We unequivocally support the action taken by organized labour, and UTAG has begun the necessary steps to activate a nationwide strike as per the declaration.

This decision is not taken lightly, but reflects our deep-seated concern over the current handling of SSNIT investment interests and its assets,” said UTAG in a statement.

UTAG accused the SSNIT board and top management of demonstrating poor corporate governance skills that have eroded public trust in their ability to effectively manage pension funds and assets prudently and transparently.

The association said that the initial decision to proceed with the sale, despite widespread public outcry, indicates a disregard for the sentiments and welfare of the broader populace.

“Their involvement in this unpopular and controversial transaction has revealed a critical lapse in their judgment and accountability and a poor appreciation of the public wisdom,” said UTAG.

“Thus, those in positions of power within SSNIT must step down to allow new people with a better appreciation of the enormity of the responsibility of managing pension funds to take over and restore public trust.”

UTAG is demanding greater participation of organized labour in the management of SSNIT with minimum interference by government and political appointees who mostly do the bidding of the appointing authority.

The association believes that this will ensure that pension funds are managed prudently and transparently, and that decisions are taken in the best interests of pensioners and contributors.

“In light of these events, UTAG is calling for, in addition to the termination of the sale as demanded by Organized Labour, an immediate dissolution of the Board and the resignation of the top Management of SSNIT,” said UTAG.

“Their involvement in this unpopular and controversial transaction has revealed a critical lapse in their judgment and accountability and a poor appreciation of the public wisdom.”

The statement added that UTAG is resolute in its unity with organized labour in this struggle to safeguard the interests of its members, ordinary Ghanaian workers, and pensioners.

The association is calling on all stakeholders to acknowledge the seriousness of this situation and stand with them in demanding fundamental principles of transparency, accountability, and integrity in managing pension funds.

“We demand greater participation of Organised Labour in the Management of SSNIT with minimum interference by government and political appointees who mostly do the bidding of the appointing authority,” said UTAG.

Also read; SSNIT terminates sale of 60% shares in four hotels

“We call upon all stakeholders to acknowledge the seriousness of this situation and stand with us in demanding fundamental principles of transparency, accountability, and integrity in managing pension funds.”

UTAG’s demands come as a response to the controversy surrounding SSNIT’s decision to sell 60% shares in four hotels. The decision was met with widespread public outcry, leading to a declaration of a nationwide strike by organized labour. However, following pressure from labour unions, SSNIT announced the termination of the sale on July 12.

UTAG believes that this development is a step in the right direction, but more needs to be done to restore public trust in SSNIT’s ability to manage pension funds and assets prudently and transparently.

The association is calling for an immediate dissolution of the board and resignation of top management, as well as greater participation of organized labour in the management of SSNIT.
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UTAG Demands Greater Participation of Organized Labour in SSNIT Management

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