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Teachers’ Fund Targets Gh¢1billion Assets growth by January 2017

Teachers’ Fund Targets Gh¢1billion Assets growth by January 2017

The Teachers’ Fund (TF) of the Ghana National Association of Teachers (GNAT) is expected to grow its assets to about GHȼ1 billion, by January, next year.

The Fund’s assets as of September stood at GHȼ750 million, compared with the previous year’s same period total of GHȼ235 million.

Mr. George Asare Yamoah, the Board Chairman, who announced this said it would continue to go into strategic and prudent investment to increase its assets to bring substantial benefits to contributors during retirement.

Contributions of the 196,234 members totaled GH¢314, 720, 382.00, at the close of September.

He was speaking at a ceremony held to honour five retired members, who had made additional contributions, aside the mandatory deductions, to increase their pension benefits.

They are Charles Yaw Asuah, Stephen Mensah, Joseph K. Asare, John Gyima Amamoo and Margeret Agyeman.

Each contributed almost GH¢20,000 during their working years and they received benefits ranging between GH¢31,000 to GH¢50,000.

The Association gave to every one of them a full piece of cloth and unspecified amount of cash.

The Teachers’ Fund, is an investment scheme where members of GNAT make  mandatory monthly contributions  to sustain.

They pay a minimum of GH¢30 a month and could opt to make additional contribution to enhance their retirement benefits.

The Board Chairman said the fund had granted GH¢300 million in loans to the members, with the return on investment put at 105 per cent.

Mr. David Ofori Acheampong, General Secretary of GNAT, hailed past leaders of the association for their vision in establishing the fund and said the benefits had been tremendous.

Madam Philipa Larsen, GNAT’s acting President, reminded teachers, who would be engaged by the Electoral Commission (EC) to perform any duty in the coming election to be diligent and demonstrate high level of integrity to ensure free, fair and credible polls, the outcome of which would be acceptable to all.

GNA

 

About Ellis Ferdinand

Ellis Ferdinand is the Founder/Chief Executive Officer of EducationGhana Limited and the Managing Editor at EducationGhana.net . He is a passionate writer,a publicist and an online Marketer and Promoter. He is Ghana's number 1 Education Blogger who brings all happenings in the Ghanaian Education Sector ,from Basic to Tertiary, to the doorsteps of readers on EducationGhana.net He is also the Founder of Education Awards Ghana which will soon be launched in Ghana to help boosts the Education Sector. He is Passionate about Promoting Education in Ghana, Africa and the world at large. Ferdinand Completed Accra College of Education and was Awarded a Diploma In Basic Education by the University of Cape Coast and Currently reading Psychology and Foundation of Education with Management and Accounting Options at the University of Cape Coast in Ghana. Ferdinand is willing to work with any organization who believes in Promoting quality business as well as Education in Ghana and Africa. You can Contact him for Promotion of Events,Advertisements,Publications and any other business through Education Ghana.

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