President Nana Akufo-Addo says his administration is working to establish a world-class labour force and also address public sector remuneration issues.
Speaking at the May Day celebration at the Baba Yara Sports Stadium in Kumasi,the president announced that an Inter-Ministerial Committee has been established by the Employment and Labour Relations and Finance Ministries to undertake a review of the Single Spine Pay Policy (SSPP) and to make recommendations to government for implementation.
“Having operated with the Policy since its inception in 2010, it is time to institute this review,” the president noted, adding the team is expected to do a thorough review of both public and private sector pay policies in Ghana and also across the globe, “to make informed recommendations for implementation.”
Mr Akufo-Addo further stated that “productivity should be taken into consideration in the determination of remuneration for work done by employees in both the public and the private sectors. Whilst we seek to review the remuneration, I continue to count on you, Secretary General, to lead the campaign for a change in attitude to work and increase in productivity.”
He said while his government seeks to review the remuneration, he will continue to count on the Secretary General of the TUC to lead the campaign for a change in attitude to work and increase in productivity.
Nana Akkufo-Addo further announced that the Ministries of Finance and Employment and Labour Relations, with the co-operation of the TUC, has ensured the smooth transfer of GH¢3.1 billion of Tier 2 pension funds into the custodial accounts of the pension schemes of labour unions.
“Our concern has been to ensure that the Pension Funds are secured ahead of their retirement, he added.
He said the persons who had been nominated to chair the Schemes are well equipped, and possess the necessary experience in the management of the affairs of the Schemes.
“Workers can be assured that their contributions, and accompanying investment returns, are safe, and would be promptly disbursed as and when they retire from active service,” the president.
Assuring the TUC on their calls for a special committee to review Tier I and Tier II pension schemes, Nana Akufo-Addo said “…the composition of the Board of the National Pensions Regulatory Authority has been completed, and will be sent shortly to the Council of State, as is required by law. Already, the Council of State has concluded its consultation on the composition of the Boards of the National Labour Commission and the Fair Wages and Salaries Commission, both of which will be inaugurated within the next week.”
The theme for the 2018 May Day Celebration was “Sustainable Development Goals and Decent work: The Role Of Social Partners.”