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CLOGSAG Cites Regulatory Failure Because Of CAGD’s Failure To Transfer Deducted Pension Funds To SSNIT


The Civil and Local Government Staff Association of Ghana (CLOGSAG) is accusing the National Pensions Regulatory Authority for the Controller and Accountant General Department (CAGD’s) inability to move deducted benefits assets to SSNIT.

The Auditor General’s 2019 report on Public Boards, enterprises and legal foundations uncovered that the regulator and Accountant general neglected to move ¢1.2 billion of public area laborers commitment to SSNIT.

Yet, addressing JoyNews, Public Relations Officer of CLOGSAG Edmund Acquaye noticed that if the National Pensions Regulatory Authority (NPRA) was capable, this infraction would not have happened.

He noticed that ‘NPRA is plunking down detached permitting more inconsistencies to go on inside the annuity framework and it is awful.

NPRA is simply the controller of Pensions, have we found out if the NPRA is capable? We are confronting more benefits issues in light of the fact that the controller isn’t managing its work. The controller should guarantee that amounts of cash that have deducted from laborers pay are shipped off the legitimate plan for it to be contributed”

“We are joking with our benefits as a country, since, in such a case that derivations have been made by the regulator and Accountant general from laborers compensation directly at source and it’s being kept and not transfered to the different banks or in any case SSNIT for it to be all around contributed and interests be made on those cash it’s actually being kept, at that point we are messing with our Pensions as a country”, he added.

CLOGSAG is additionally condemning the Social Security and National Insurance Trust for bungling the annuity assets by putting resources into what they depict as pointless and lost tasks.

As per Mr Edmund Quaye “today we see SSNIT putting resources into superfluous tasks. The authoritative expense from SSNIT is excessively. SSNIT’s speculation drive is lost.”

“In what way should SSNIT convey Black Stars and turn again to say we will support Black Stars and Black Stars allies, so you fans them abroad with retired people cash, how might SSNIT fabricate Bukom Arena, a boxing square with beneficiaries cash, what sort of venture is that?” he inquired.

Written by Edet Esah


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