KTU workers picket SIC head office over investment funds

The Technical University Senior Administrators Association of Ghana at Koforidua Technical University (KTU) is staging a protest today, October 31, at the State Insurance Company’s (SIC) head office in Accra, seeking the return of their investment funds.

More than 500 university employees, ranging from junior to senior staff, entered into a fund management agreement with SIC in 2010.

However, in 2022, KTU’s management opted to exit the arrangement after SIC failed to disburse insurance benefits to retirees, beneficiaries, and members in need of funds for medical expenses.

Daniel Mbimab, Chairman of the Association, told the media that efforts to recover the funds have been fruitless.

“Management wrote to them and then stopped the payment of our monthly contributions to the fund,” he said.

“The staff and unions collectively decided that after saving and investing with SIC for so many years, it was time for them to refund our money.”

KTU’s management has repeatedly requested the return of funds, but each communication, Mbimab noted, has been met with delays and unsatisfactory responses.

“Many of our members are facing serious hardships—some have passed away, leaving dependents who urgently need the funds. Others are critically ill,” he added, underscoring the pressing need for resolution.

Source:classfmonline.com