Pension Funds Exempted From Debt Restructuring Program | General News

Organized labor has reached a deal with the government to exempt pension funds from the government's domestic debt restructuring programme.

The Secretary General of the Trade Union Congress (TUC), Dr Yaw Baah who announced this at a press conference in Accra Thursday said the organization has therefore called off its intended strike that was scheduled for December 27, 2022.

“We are pleased to inform you that this afternoon the government has agreed to exempt all pension funds from the domestic debt restructuring”

He said the agreement with the government follows meetings held between organized labor and government to resolve issues on the exemption to all pension funds in the domestic debt exchange program that was announced on December 5.

“Government has decided to grant exemption to all pension funds in the DDE programme” he said.

However, the TUC Secretary General said the government, together with organized labor and associations shall work together to explore mutually beneficial options within debt sustainability limits and to also promote macroeconomic stability and economic recovery in the spirit of social partnership.

Dr Yaw Baah expressed the TUCs appreciation to the government for heeding to its call to safe pension funds.

Particularly, Dr Baah thanked the Minister of Labor Relations, Ignatius Baffour Awuah and the Minister of Finance Ken Ofori-Atta for helping the TUC to reach the deal with the government.