Complete speech of Akufo-Addo at May 1, 2019

General News of Wednesday, May 1st, 2019

Source: Myjoyonline.com

2019-05-01

President Akufo-Addo instructed the Minister of Employment and Labor Relations to consult with the Social Security and National Insurance Fund (SSNIT) and with the National Authority for Pension Regulation (NPRA) to definitively settle all outstanding issues over the next three months.

Addressing the celebrations of 1 May 2019 on Black Star Square on Wednesday, he stressed that the essential contribution of labor to the process of production, economic growth and sustainable development requires that the dignity of work be maintained at the same time. along the retreat.

"We will build a strong economy and a prosperous society when we put in place a sustainable pension plan for all workers. For far too many people, the end of their lives is marked by poverty. Too many people have no pension at all or do not have enough pension to meet the needs of old age, "said the President.

Below his complete speech

Speech of Akufo-Addo at the celebration of May 1st, 2019

I am happy to have the opportunity to meet you on this special day, the third of my presidency, which is reserved to celebrate the work and the workers around the world. Today is the International Day of Solidarity for all workers. Ghanaian workers, ayekoo.

I do not think we exaggerate if we say that work is at the center of all human life and human existence. We spend the first twenty years of our life preparing for work, then we spend the next thirty to forty years of informal work and, if we are lucky, we spend the last twenty years in retirement. The quality of this retirement period is very much dependent on how well we manage the time we spend at work.

I know that I declare the evidence, but I want to emphasize that I do not need to be persuaded of the importance of the work and the circumstances in which we work. I also want to reiterate the fact that we all participate together, whether in management, in government or in the workshops. The project of our existence succeeds if we work together and work together.

Our country, Ghana, at age 62, remains a work in progress and much more needs to be done to improve the quality of our lives in all three stages: the pre-work period, the period in which we work, and the period during which we take a deserved rest from work.

The statistics quoted eloquently in the speech of the Secretary General of the Trade Union Congress testify to the unbalanced nature of things in our country: the labor force in our country is estimated at about 13 million people and the number of informal workers at around 1 , 2 million. .

The Government of Ghana employs about 600,000 people of this number and over 80% of its income is spent on the remuneration and terms of service of those of us in this group. Of the 600,000 people in the government, very few of us are satisfied with the situation, and I am sure we have all heard one of the main sources of discontent among the litany of complaints read by the representative of the movement. union.

In the 28 months in which I have had the honor and privilege of being president of our country, I have been as candid as possible with the Ghanaian people, even though, sometimes the truth was unpleasant. Let me try to bring out some well-known facts about our condition.

I believe that there is a consensus on what we all want for us and for our country; we want a healthy, educated and skilled population, we want well-paying and satisfying jobs, as well as a well-developed infrastructure network in the country. In 62 years, we have not managed our business to give us the money to deal with the serious deficit of our infrastructure development without borrowing money. I imagine that even if we spend 100% of the total government income on salaries for the 600,000 people on the public payroll, it would still be dissatisfied with the conditions of some people.

Ladies and gentlemen,

I believe it is time we confront reality and start asking ourselves some of the tough questions. Development remains our collective responsibility and our aspirations. Should we continue to pay more attention to improving the living conditions of the few who are employed, or should we focus on creating a climate conducive to job creation? For years, we have all said that many public servants were pushed to corruption because they were very poorly paid. Salaries and terms of service have been improved for many, and we have not seen an equivalent improvement in the quality of their work.

This year's theme for our May Day celebration is "Sustainable pensions for all: the role of the social partners". The theme leads us to what I have identified as the third stage of our work-centered existence. This implies that we have acquired the skills necessary for working life, that we have a job and that we can hope for a satisfactory retirement. Everyone knows the essential contribution of the workforce to the production process, economic growth and sustainable development. It is important that the dignity of work be maintained throughout retirement.

The adoption of the 2008 National Pensions Act introduced Ghana into a new pension scheme characterized by a three-tier pension system. As we all know, this plan is composed of a Basic National Social Security (Level 1) Plan, a Occupational Retirement Plan (Level 2) and a Provident Fund and Individual Pension Plans ( level 3). Currently, pension fund badets would have risen from 5.1 billion GH ¢ (representing 6.75% of GDP) in 2012 to 20.8 billion GH ¢ (representing 10.1% of GDP) in 2017. As a result, the fund's badets have continued to grow since the implementation of the three-tier pension plan. This has given private sector operators or businesses pensions the opportunity to thrive. In 2018, the National Pension Regulatory Authority (NPRA) registered and authorized 30 corporate officers, 77 pension fund managers and 17 pension fund guards.

This rapid growth in total pension badets can be attributed primarily to increased private sector participation in the pension sector, the availability of sound investment guidelines, and an independent regulator (NPRA) that oversees and ensures compliance with the rules. good practices. In addition, Level 3 offers formal and informal sector workers the opportunity to make voluntary contributions. This is a welcome innovation in our pension plan. Indeed, formal sector workers who contribute to level 3 schemes have an additional advantage in that their pension obligations are deducted before tax.

I look forward to all Ghanaian workers recognizing the importance of pensions and gaining confidence in the sector. The current system gives each worker the opportunity to exercise absolute control over his pension through efficient and transparent management. As I told you last year, over three billion cedis (or 3.1 billion GH) of pension funds that had been on hold for six years and on which TUC was complaining loudly, were transferred in 2017 from the temporary pension fund account. (TPFA) from the Bank of Ghana to the appropriate occupational pension schemes. Pension fund managers and administrators have a lot of work to do to build and maintain the trust of workers. For many people, this is a new and unexplored territory, and understandable anxieties must be overcome by working with the utmost degree of diligence and honesty in managing the resources entrusted to them.

I acknowledge that there are unresolved issues with the Social Security and National Insurance Fund (SSNIT) and the NPRA. I asked the Minister of Employment and Labor Relations to consult with SSNIT and NPRA to finalize all outstanding issues over the next three (3) months. Just as we should create a climate of trust between workers and new private pension funds, it is just as important that there is a relationship of trust between the workers and the state-established SSNIT. I am told that the Ministry of Finance has made arrangements for the payment of GH ¢ 200 million and a guarantee of GH ¢ 700 million for the withdrawal of arrears due to SSNIT. This will leave arrears of 800 million GH ¢, which will be included in next year's budget.

We will build a strong economy and a prosperous society when we put in place a viable pension plan for all workers. For far too many people, the end of their lives is marked by poverty. Too many people have no pension at all or do not have enough pension to meet the needs of old age. In the informal sectors of the economy, in particular, most people work without worrying about pension coverage, and when they are no longer able to work, their lives become miserable.

Our societies have changed, the elderly can no longer, unfortunately, rely on their children to take care of them in their old age. I hope and pray that we never lose Ghanaian values ​​of accepting responsibility and taking care of our elderly, but that should not prevent us from organizing things to ensure the Independence and dignity of the elderly when they retire.

Given that about 90% of workers work in the informal sector, we must focus our attention on expanding access to this sector in accordance with the National Pensions Act. At present, the government's efforts to set up a cocoa farmers' pension scheme are under way. This trend would be extended to other groups of workers in the informal economy.

Compatriots, women,

Another way of expanding the pension base is, of course, to reduce unemployment. We are working on an economic transformation agenda through various job creation initiatives such as "Planting for Food and Employment", "A District, a Factory", "Industrial Recovery Program", "Planting for export and rural development ", private sector. support schemes, all of which are beginning to bear fruit and should soon begin to reduce unemployment and provide citizens with opportunities for work, higher incomes and pension contributions.

A year ago, I mentioned in particular the importance of the TVET sector in preparing our young people for the world of work. I promised that we would support the speech with action. I am pleased to report that we have made significant progress. We have funds for 21 advanced technical and technological training centers. Parliament endorsed the modernization, modernization and improvement of the programs of the 34 NVTI centers and the training of teachers. It also includes the construction of two new foundries and two machinery manufacturing plants, as well as the completion of the NVTI headquarters. We also obtained Parliament's approval for the 10 technical universities and technical institutes to be re-equipped, refurbished and rehabilitated.

In other words, ladies and gentlemen, we know the areas of creating sustainable jobs and we know that we need well-trained technicians to build our country. We are making realistic and effective efforts to ensure that we produce those who generate work and pensions.

I also want to encourage our social partners, employers and business owners to comply with pension regulations and help their staff contribute to pension plans. We should all make known the importance of pensions and the structures in place to ensure transparent and efficient management of pension funds.

Ladies and gentlemen, the Government is determined to further strengthen relations between the social partners in the post-IMF era. That is why on April 18, 2019, the government signed a historic social partnership agreement with the organized union, represented by the Trades Union Congress, the Ghana Employers' Association, and the government, represented by the ministries. Finance, employment and relationships mean to create a sense of cohesion, trust, self-management, frank and open discussions to support development in order to realize the vision of a Ghana Beyond Aid.

The government is committed to a new social contract that promotes social dialogue in economic management and public policy formulation. It is also to badure you, our workers and our businesses, that you are our true development partners and that your ideas are essential in my government's management and economic development model.

I will soon inaugurate a Social Partnership Council with equal representation of the three social partners. I am very confident that this new approach to economic management and public policy formulation will foster even greater cooperation and trust between our partners. Together, we can achieve a more stable economy, peace on the labor front and the prosperity of the good people of Ghana.

Before concluding, I must address an important point. At the May 1 celebration in Kumasi, I informed the trade union and the country of my intention to create a multi-stakeholder committee to develop a charter and strategy for the vision of "Ghana Beyond help". The committee, chaired by the Prime Minister, is composed of ministers of finance, planning, local government and rural development, employment and labor relations, monitoring and evaluation, and of information.

The Secretary General of the Congress of Trade Unions (TUC), Dr. Yaw Baah, and the Vice President, Ms. Philomina Sampson, are also members. The leaders of the Ghana Industries Association, the Federation of Private Enterprises, the National Association of Teachers of Ghana, the Ghana Chamber of Commerce and Industry, and the Association National Union of Students of Ghana (NUGS) have also played an important role. The Committee has worked tirelessly to produce a charter and a strategy document, which will guide our march towards "Ghana Beyond Aid", and I am pleased to release this document today. On behalf of the Ghanaian people, I would like to thank the Ghana Beyond Aid Committee for its excellent work.

Ghana Beyond Aid puts our country on an irreversible path of prosperity. With the blessing of the Almighty and our collective effort, we will boldly move from poverty to prosperity in order to create Ghana imagined by our ancestors, the present generation aspires to have it, and our posterity will be proud of it. to inherit it – a Ghana is self-sufficient and prosperous, governed by the rule of law, respect for human rights and individual freedoms and the principles of democratic accountability, the Ghana of our dreams.

I thank you for your attention and congratulate all the workers on this occasion for their hard work over the past year and ask for your continued support in the national development efforts.

Long live Ghana!

Long live the workers of Ghana!

Ayekooo!

May God bless us all, as well as our homeland, Ghana, and make it great and strong.

Thank you for your attention.