“The future financial secu­rity of workers must not be compromised, so investment for such security must not be touched under any circum­stances, the General Secre­tary of the ICU-Ghana, Mr Morgan Ayawine, stated this in a press release copied to the Ghanaian Times in Accra on Wednesday.

The union said such a move would affect the retirements of workers in the country.

Mr Ayawine stated that the ICU would act in concert with other labour unions in the country to protect the welfare of workers, especially pensioners.

“ICU-Ghana is vehemently opposed to government’s intention, as outlined in the 2023 budget statement, to an appropriate interest on workers’ pension funds in its bid at economic recovery and outrightly rejects it,” he said.

“If the meagre pension paid to majority of retired workers in the country, which is already 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 retired workers who paid their dues to the nation and deserved a decent and com­fortable living was in jeopardy.

“Contemplating the deprivation and bleak future that the proposition by the government would foist on poor pensioners, the ICU-Ghana cannot but join in the demonstration being organised by our sister trade union organisations and call on the government to rescind its decision and never ever touch the pension funds in the domestic debt exchange programme,” Mr Ayawine said.