The Technical University Senior Administrators Association of Ghana of the Koforidua Technical University (KTU) is set to picket today, Thursday, October 31, at the State Insurance Company-Financial Services Limited (SIC-FSL).
head office in Accra.
Over 500 staff members, including both junior and senior personnel, entered a fund management agreement with SIC in 2010. However, in 2022, the university’s management decided to withdraw from the agreement following SIC’s failure to disburse insurance packages to retirees, beneficiaries, and members requiring funds for medical treatment.
Speaking to Citi News, the Chairman of the Association, Daniel Mbimab, stated that all efforts to retrieve their funds have so far been unsuccessful.
“Management wrote to them and then stopped the payment of our monthly contribution to the fund. So the staff and the unions all came together that since…we have been saving or doing our investment for so many years and they have the money in their custody, they should refund the money to us.
“So management wrote to them to refund the money and ever since we have been playing this game where we write to them or we communicate to them, bring our money and then they tell us a different story.
“So we have been doing this for quite some time now but we realised that the majority of our members or some of our members are dying or some are dead and their dependents require the money to actually move on. Some are critically ill.”
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