Members of the Civil and Local Government Staff Association, Ghana (CLOGSAG) in the Ellembelle District has held its first quarter meeting to update staff on the issues of the Association as well as enlighten them on issues related to pensions and personal development of staff.
Addressing members, the Western Regional Secretary of the Association, Mr. Kwame Tawiah admonished members to grab the opportunity that the CLOGSAG Fund avails to save more against rainy days. He explained that members could increase their contributions so that eventually when they retired, they could take home relevant fund to support them.
He used the opportunity to advise members to visit the Social Security and National Trust (SSNIT) to update their records as most people face challenges during retirement. He again prevailed upon members to take key interest in the Tier 3 of the Hedge Pensions to save ahead of retirement.
Mr. Tawiah pointed out that the CLOGSAG Fund is the collateral for the loans being taken by members and that one could not take the loan and at the same time take partial withdrawal adding that after taking a partial withdrawal one is entitled to take a loan after two years. He clarified that only members on the CLOGSAG Fund could take a loan up to the sealing of GH¢150,000 at 22 percent. He indicated that members who are not fund contributors could take a Welfare loan whose limit is at GH¢ 2,000.00 at 11 percent interest rate.
He encouraged members to call the region for clarification on matters bothering them and as well channel their issues to the District Executives for clarification.