Economist Kwame Pianim has charged the Ghana National Association of Teachers (GNAT) to consider building houses as retirement packages for teachers.
According to him, the current Teachers Fund is beneficial to teachers who are still in the profession, but a retirement plan will ensure the teachers are well catered for after they finally put their chalk down.
Speaking at a GNAT investment forum, Mr Pianim also set out a 20-year strategic plan for the association, an act he believes would improve teachers’ livelihood and attract younger people to the profession.
“Teachers have the chance to own two to three-bedroom housing units at any location of their choice if they choose to invest through the Teachers Fund “.
He added that ” through collective contributions and investments in insurance and housing, members can own these housing using across the country by choosing specific locations where groups of them could retire to in the future.
Hopefully, the housing scheme should be able to sell homes to teachers built by independent developers for not more than ¢200,000″.
The GNAT Investment Forum was put together to deliberate on the Association’s investment portfolios over the last 20 years and how to equally diversify the contributions of teachers to benefit them even after retirement mutually.
Mr Pianim acknowledged the difficulties current National Executives could encounter in getting buy-in from members of GNAT in adopting the comprehensive housing plan.
Still, he advised that “the time has come for the Association to make initial sacrifices like was done in establishing the Teachers Fund, to afford teachers” the opportunities to own homes by the time they retire.
President of GNAT, Phillipa Larsen reiterated the need for members to support the National Executives and Administrators to ensure these laudable initiatives come to fruition to benefit teachers in their retirement.
She said, “efforts have been made to prudently invest all contributions of GNAT members to give opportunities not only to teachers but also to ordinary Ghanaians who also get employment and thousands more in the value chain.”
General Secretary Thomas Musah assured members about the safety and financial efficiency of investments undertaken by GNAT.
Apart from the Teachers Fund, he said, “other firms invested in include TF Financial Services, Credit Mall Ltd, TF Properties Ltd and recently Unique Insurance Company Ltd, Sweden Ghana Medical Center and Aviance Cargo Ltd”.
Deputy Education Minister, Rev. John Ntim Fordjour represented the Minister of Education at the GNAT Investment Forum.
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