Agreement To Exempt Pensions From DDEP Is Final, No U-Turn - Organised Labour

Organised Labour has reiterated that the agreement it had with the government in December last year to grant exemption to all pension funds in the Domestic Debt Exchange programme (DDEP) is final.

In a statement dated February 1, 2023 reacting to the government’s revised DDEP on January 31 and extension of the deadline, Organised Labour reiterated that, it’s position is “FINAL as far as involvement of Pension Funds in the DDEP is concerned.” 

“By this, Organised Labour and ALL our Pension Schemes are not participating in any DDE Programme as per the aforementioned exemption from government.”

It said “any contrary communication or position is alien to us and should be dismissed by all well-meaning Ghanaians.

“Any attempt to go contrary to this agreement will be fiercely resisted by Organised Labour.

“We assure all workers of Ghana that, Organised Labour will continue to safeguard their interest

This was contained in the statement jointly signed by the Secretary General of the Trades Union Congress of Ghana (TUC), Dr Anthony Yaw Baah; Chairman of FORUM, Isaac Bampoe Addo, and the Deputy Secretary General of Ghana Federation of Labour (GFL), Kenneth Koomson.

Read also: Govt announces final Feb 14 deadline for Domestic Debt Exchange Programme
The government in a release on Tuesday announced a revised DDEP, and encouraged all bondholders to commence administrative processes towards their participation in the Exchange.

It added that discussions were also being finalised with Organised Labour and Pension Fund Trustees, on a separate arrangement in accordance with the Memorandum of Understanding signed with Organised Labour (on December 22, 2022) in line with the government’s debt management Programme.

It based on this that Organised Labour is reacting.

Below is copy of the statement

ORGANISED LABOUR, GHANA

PRESS RELEASE BY ORGANISED LABOUR ON CURRENT INFORMATION IN THE PUBLIC SPACE IN RELATION TO THE DOMESTIC DEBT EXCHANGE PROGRAMME (DDEP) AND PENSION FUNDS
1ST FEBRUARY, 2023

Following a meeting held at the TUC Hall on 1" February, 2023, by Organised Labour, it was resolved that:

1. Per the Agreement between Government of Ghana and Organised Labour, signed on Thursday, 22 nd December, 2022, with the Finance Minister, Hon. Ken Ofori-Atta and Hon. Ignatius Baffour-Awuah, Minister for Employment and Labour Relations, executing same on behalf of the Government of Ghana and Dr. Anthony Yaw Baah, Secretary General of TUC, on behalf of Organised Labour, paragraph 1 stated as follows: "Government has decided to grant exemption to all pension funds in the DDE Programme".


Organised Labour hereby reiterates that, this position is FINAL as far as involvement of Pension Funds in the DDEP is concerned. By this, Organised Labour and ALL our Pension Schemes are not participating in any DDE Programme as per the aforementioned exemption from Government.

2. Any contrary communication or position is alien to us and should be dismissed by all well-meaning Ghanaians. Any attempt to go contrary to this agreement will be fiercely resisted by Organised Labour.

3. We assure all workers of Ghana that, Organised Labour will continue to safeguard their interest at all times.


 

 


 
 

 
 

 

Source: graphiconline.com