The Teachers Fund is a retirement supplement and solidarity scheme for the Ghana National Association of Teachers (GNAT) established by a Trust deed (a deed of conveyance creating and setting out the conditions of a trust) in May, 1998. The fund started with a monthly deduction of Ten pesewas as basic contributions from the salaries of GNAT members through a check- off system.
The fund has its largest investment in loans to its members. The tremendous growth in assets is largely attributed to the commitment on the part of members (teachers) to invest towards their retirement.
This was brought to light by the Deputy General Secretary in charge of Education and Professional development Ms. Gifty Anyogbe Apanbil at the launch of the 20th Anniversary Celebration of the teachers fund on Wednesday, 21st March, 2018 at the Regional Secretariat in Wa.
In her address, the Wa Municipal Director of the Ghana Education Service, Hajia Fusata Hamidu revealed that members now benefit from the cancer fund that was established a few years ago.
She also used the occasion to appeal to members of GNAT to collaborate with GES in designing some educational programmes to upgrade the skills and knowledge of members to enable them deliver effectively at work.
Reading a speech on behalf of the Ag. Upper West Regional Minister, Hon. Amidu Chinnia Issahaku, a Deputy Director at the R.C.C Madam Fati Koray used the occasion to commend GNAT for the innovation of establishing and operating the fund. The fund she said has grown to provide some services including lifestyle enhancing facilities such as loans, access to credit to purchase household items and in real estate ventures.
She reiterated the commitment of Government to motivate teachers and reward hardworking teachers to enhance teaching and learning in public schools.
As part of efforts to improve teaching and learning, some students of the Wa Municipal Girls JHS were presented with bursaries.
In line with activities for the celebration of the 20th anniversary, some sixteen (16) selected female teachers who teaches in deprived and remote schools were each given One Thousand Cedis as a form of motivation.
SOURCE: JULIUS DUDIMAH