The Ghana National Association of Teachers (GNAT) has inaugurated a new Board of Trustees to administer tier-3 contributions of members.

The Board of Trustees is chaired by Ransford Kofi Nsiah Lolih, with Thomas Musah, Victor DeGraft Etsison, Peter Obeng Nyamekye, Helen Asantewaa, Daniel Tomey, Isaac Baah and Philip Dela Zumanu as members.

Addressing the inaugural ceremony, the Employment and Labour Relations Minister, Ignatius Baffour Awuah, cautioned the trustees against misapplication of the contributions. He urged them to ensure judicious management of the funds.

Mr Awuah noted that the misuse of such contributions will be considered an offence.

Under the National Pensions Act 766, beneficiaries are to make compulsory contributions to the first and second tiers.

GNAT inaugurates new Board of Trustees for tier-3 funds

President of GNAT, Isaac Owusu, said: “it is important that the newly inaugurated Board works in the interest of GNAT.”

He, thus, encouraged them to help convince members to contribute to the Fund and enhance its growth.

“With an Association that has a membership of over 200,000, having only 10,000 of them covered by the GNAT Provident Fund is not acceptable.”

Rev Owusu assured all members of GNAT about the commitment of elected national officers and administrators in this “endeavour because neither me as President or the General Secretary have any other interest, but to see to the development of our great Association.”

GNAT inaugurates new Board of Trustees for tier-3 funds

Meanwhile, the General Secretary of the Association, Thomas Musah, said the “Board has come at an opportune time to ensure members continue to have confidence in how their contributions are managed.”

The event was also attended by a former GNAT National President, Philippa Larsen, former officers, current Deputy General Secretaries and other officers from across the country.