Gov’t did not err in selecting us – Pensions Alliance

pensionA management member of the Pensions Alliance Trust-the company managing the tier two pension funds of public workers- has dismissed speculations the company is being micromanaged by government.

Philip Dela Zumanu says the Alliance Trust is owned and competently managed by private Ghanaian citizens who were selected on merit with no links to government.

He dared critics to proceed to the Registrar Generals Department to find the names behind the Pensions Alliance Trust.

Government has come under extreme pressure from striking public workers to follow due process of law by handing over the tier two pension funds to trustees and fund managers to be selected by the workers.

At present, the Pensions Alliance Trust has been selected by government to manage the tier two pension funds on behalf of workers.

The workers are angry, describing government’s action as unnecessary imposition on them.

Some critics are even alleging that managers of the Pensions Alliance Trust are close associates to government officials- an allegation Dela Zumanu has been quick to dismiss.

Explaining how his outfit won the bid to manage the funds, Mr. Zumanu said five private fund managers presented competitive bids to government for consideration.

After careful scrutiny, he said the Alliance Trust was selected by government because it has” credibility and systems to deliver on its mandate.”

Mr. Zumanu also dismissed claims that government erred in selecting them to manage the funds on behalf of workers.

He said under the law, it is the duty of the employer, public and private, to select the fund manager to manage the tier two pension scheme on behalf of the employees. That is what government has done as the employer of public sector workers, he hinted.

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