Plans have been set in motion by the Health Sector Occupational Pension Scheme to automate and streamline benefit payout channels, aimed at eliminating bottlenecks and ensuring members access their retirement entitlements promptly.
This came to light during the 4th Annual General Meeting of the scheme held in Kumasi on Monday, 19th October, where the Chairman of the Board of Trustees disclosed the upcoming operational adjustments designed to enhance efficiency across board.
Addressing participants at the meeting on behalf of the Minister for Jobs and Employment, the Ministry’s Director of Research, Shadrack Mensah, called for an urgent overhaul of welfare structures for healthcare professionals.
He warned that safeguarding the well-being of doctors, nurses, midwives, pharmacists, and other health personnel must extend beyond basic salaries and conditions of service to incorporate robust financial safety nets for their twilight years.
Given the rigorous and high-pressure conditions health workers endure, Mr Mensah asserted that guaranteeing their financial security after active service is non-negotiable. He underscored the imperative of prudent fund management to shield workers’ life savings while preserving their dignity in retirement.
Addressing the dual purpose of pension funds, the Director acknowledged their utility in driving key national development projects and productive ventures. He, however, cautioned against exposing contributors’ hard-earned funds to speculative or high-risk investments.
“While pension funds can support productive investment and national development, such opportunities must never compromise the security of workers’ retirement savings. Development objectives and pension protection must reinforce one another, not compete, protecting health workers,” he said.
Mr Mensah further reminded stakeholders that comprehensive welfare for medical staff must encompass occupational safety measures, structured career progression, and reliable social protection mechanisms, reflecting their pivotal role in national healthcare delivery.
By: Rainbowradioonline.com/Ghana