The Civil and Local Government Staff Association (CLOGSAG) has strongly cautioned the government not to touch its pension funds as part of efforts in reviving the economy.
The government is currently seeking a $3 billion dollar bailout from the International Monetary Fund to revive the ailing economy. To get the support it has embarked on a domestic debt restructuring programme.
Pension funds were initially exempted from the debt exchange programme, but the Finance Minister in a recent interview said discussions were underway with labour unions to see how their pension funds can be used to help the government meet certain targets.
But speaking as part of the May Day Celebration on the theme, ‘Protecting our Pensions and Incomes Now to Avert Old Age Crisis’ the Deputy Executive Secretary of the association, Kojo Krakrani, said it will continue to fight for better working conditions for its members.