Teachers charged to save towards retirement

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Teachers have been urged to increase their contributions to the Teachers Fund to enable them secure a comfortable life after retirement.

Mr Asare George Yemoah, the National Chairman for Teachers Fund (TF) made the call at a media briefing to mark the 20th Anniversary Celebration of the Teachers Fund in Tamale.

“Pension plans start when you are forty years and so for my young teachers I will encourage them to increase their contribution. After all when money comes into your hand, you have unplanned business so anytime you have any money coming in addition to your salary, I will suggest that you give that over to the fund because that is your own money, we will work with and then we give it back to you when you are going on retirement,” he urged.

Mr Yemoah further disclosed that the teachers fund had faced a lot of challenges right from its inception, ranging from mistrust to administrative issues at the Controller Accountant General’s Department (CAGD).

“The mistrust from the teachers because it’s a bigger group, the union is a membership of about 250,000. Obviously you will have a lot of doubting Thomases. So initially there were doubts as to whether the plan was sustainable, but we have proven beyond all doubt that is why we want to celebrate the 20th Anniversary in grand style,” he explained

He added that “we have had the challenge with the Controller and Accountant General. You know the Controller and Accountant General has their own problems, so as and when they come, we surmount those challenges; challenges of over deduction, under deduction, wrongful deduction and people’s pay going off.”

Mr Yemoah further appealed to teachers to exercise restraint, stressing that teaching was a noble profession, which required some degree of leverage to enable them respond very well to the calling.

By: Fatahiya Mohammed, radiotamale.com