Ghana: Workers Urged to Save Towards Retirement

The General Secretary of the Industrial and Commercial Workers Union Ghana (ICU), Mr Solomon Kotei, has called on workers to save towards ensuring a secured life during retirement.

He said a financially sound and secured life after retirement would come with planning from the beginning of one's working life till retirement which was the best form of investments.

The General Secretary gave the advice at a sensitisation workshop on preparing for retirement and managing finances for cocoa workers in Accra on Tuesday to sensitise the workers on pension issues.

The programme which was organised by the ICU Ghana, in collaboration with FNV Mondiaal, an international trade union, brought together participants from the Greater Accra Region.

Mr Kotei said it was crucial for workers to plan for their retirement at all times.

He said employees should rather invest in landed properties such as plots of land and houses and also cultivate the habit of saving right from the beginning of their working life.

The General Secretary said it was sad to realise that some pensioners have not been able to complete their buildings with their children still in school.

Mr Kotei said to ensure happy retirement, workers should endeavour to spend in moderation to ensure it did not have a toll on their income.

"As a worker, one day our active life would come to an end and we must prepare ourselves to ensure that we do not have unplanned future and become burden to our family and society at large," he added.

The Manager in charge of Pensions at the Social Security and National Insurance Trust, (SSNIT), Mr Joseph Opoku, said for one to qualify for pension's right, he or she should be between the ages of 55 and 60 years.

He said workers should endeavour to ensure that employers paid for their SSNIT contribution and monitor occasionally.

The Accra Regional Officer of ICU, Mr Thomas Atiah, stressed the need for the ICU to engage workers on pension issues to ensure workers did not suffer during their retirement.

He said the ICU would continue to educate the workers on such issues to ensure better future for its members.

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