Economic crisis: Pensioners demand 20% COLA

The Public Services Pensioners Association (PSPA) has bemoaned the low level of pensions for retired public servants across the country.

The association also expressed concerns about the negative impact of the current economic challenges on the “meagre pension” of its members.

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In a statement issued by the PSPA, signed by its chairman, W.K Kemevor on Thursday, 3 November 2022, the association observed that most public services pensioners do not even earn GHS500 per month.

The group noted that the “monthly pensions have continued to remain fixed,” despite the increasing prices of goods and services in the country and the “condition of pensioners is becoming unbearable and life-threatening.”

It made reference to the Cost of Living Allowance (COLA) that was to be granted to public sector workers by the government to cushion them against the current economic hardship and stressed that “pensioners also deserve such an intervention/support from Government so that they can also survive in this turbulent and difficult economic situation in the country.

“The truth of the matter is that pensioners also go to the same market as the serving officers.”

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The association, therefore, appealed to the government, “to, as a matter of urgency, grant a 20 per cent COLA to all pensioners, irrespective of the category they belong to,” whether CAP 30 or SSNIT.

The “government must act swiftly to rescue the vast majority of pensioners from falling prematurely into their graves,” the Association added.


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