The Industrial and Commercial Workers Union (ICU) is kicking against government’s move to apply part of workers’ pension funds to construct housing units for workers.
The Union is unhappy about plans by the Ministry for Works and Housing to use 30 per cent of the 11 percent workers’ pay from the Tier-1 contribution to enable it to go into the construction of housing units for Ghanaian workers.
“We fear that that 30 per cent from the 11 per cent might go into the drain; if we sit down and our contributions at SSNIT are not being put into viable investments, we at ICU fear the deductions will go into the drain,” the Union said.
Legislation to back deductions and project
The sector minister had earlier announced he would pursue a legislation to back the deductions in aid of the affordable housing project.
“I’m of the view that the legislation I’m pushing for will affect the Tier-1, two and three schemes because though the Pension Fund trickles in, over the period it pools to become a huge chunk that can provide affordable housing for the ordinary worker.”
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