Gov't Seeks AG�s Clarifications On Pensions Act

Government has called upon the Attorney General for clarifications on the National Pensions Act of 2008 (Act 766) after disagreement with Organised Labour on Tier 2 of the scheme. However, before taking a legal action against the striking workers, government has lodged a formal complaint with the National Labour Commission (NLC) over the strike. These were disclosed by Minister of Employment and Labour Relations Haruna Iddrisu on Friday, October 24, 2014. Speaking at the meet the press, the minister however, insisted that government remains the authoritative body to take custody of the contributions, which are currently with the Central Bank under the administration of the Governor. He said all over the world especially in Spain, Chile and South Africa fund management is embedded with government and so the status quo is not in contravention of the Act. According to the labour minister, Attorney General�s advice will be followed before a final suit is filed against Organised Labour. Twelve labour unions declared the indefinite strike after they accused government of not keeping them in the know regarding their contributions, which are to be managed by an independent body by the terms of the Act.