ICU opposes intention to utilise workers’ pension funds

Morgan Ayawine – ICU Boss

The Industrial and Commercial Workers’ Union (ICU-Ghana) is vehemently opposed to
government’s intention as outlined in the 2023 Budget Statement to appropriate interests on workers’ pension funds in the Domestic Debt Exchange/Rescheduling Programme as part of its economic recovery, and rejects it outright.

A statement signed by the General Secretary, Morgan Ayawine, and released in Accra explained that future financial security of workers, and for that matter pensioners, is sacrosanct and as such, must not be violated under any circumstances.

If meagre pension paid to majority of retired workers in the country, which already is insufficient to sustain them, is going to be given a ‘haircut’ – as it were – through withholding of interest on the pension funds, then the fate of the retired workers who paid their dues to the nation and now deserve a decent and comfortable pension to live on as their reward for the many years of dedicated service and sacrifice will be in jeopardy.

The release said contemplating the deprivation and bleak future that the proposition by the government will hang on the poor pensioner, the ICU-Ghana cannot but join in the demonstration being made by our sister trade union organisations, and call upon the government to rescind its decision and never ever touch the pension funds in the domestic debt exchange/rescheduling programme, otherwise the ICU-Ghana will act in concert with other labour unions to protect the security and welfare of workers, especially pensioners.


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