5 reap fruits of teachers’ fund

The five retired teachers with their dommy chequesIt was all joy for five retired teachers of the Ghana National Association of Teachers (GNAT) in Ashanti Region, as they walked home with huge sums of money being their contributions to the teachers’ fund.

The beneficiaries were, Charles Yaw Asuah, Stephen Mensah, John Gyimah Amamoo, Margaret Agyemang and Joseph Asare.

Though it was expected of a teacher to contribute GH¢30.00 per month to the fund, they exceeded the target and contributed between GH¢20,000.00 and GH¢27,000.00 during active service.

This earned them between GH¢30,000.00 and GH¢50,000.00 with interest as their final benefit from the fund.

They were also awarded special packages by the GNAT for their stunning performance in setting the pace for others, especially young teachers, to follow.

Addressing a gathering at the handing over ceremony in Kumasi, the General Secretary of GNAT, David Ofori Acheampong, stated that, one of the main purposes of the fund, which was created in 1998, “is to serve as a pension supplement to make retirement very enjoyable”.

He noted that, the association would continue to encourage teachers to contribute towards the fund, but cautioned that GNAT would not entertain teachers engaging in partial withdrawal from the fund, and taking part again whenever it pleases them.

“We are not in the mood to entertain partial withdrawal from the fund, because we want to encourage teachers to save towards their future”, Mr. Acheampong said.

The Board Chairman of the GNAT, George Asare Yamoah, disclosed that the fund, currently had 196, 200 contributors, and that plans were afoot to increase the monthly contribution from GH¢30.00 to GH¢50.00 to be more beneficial to the teachers.

Mr. Yamoah indicated that, by the end of the year, the fund’s asset would increase from the current GH¢750 million to GH¢1 billion and urged contributors to have faith in the authorities to contribute for the betterment of their own future.

On Ghana’s political development, president of GNAT, Philipa Lasting, advised teachers who will  assisting the Electoral Commission to conduct the 2016 polls to be transparent.


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