KTU staff to picket SIC Head Office over GH¢9M provident fund dispute

Staff of Koforidua Technical University (KTU) are taking a determined stand today, picketing at the head office of the State Insurance Company (SIC) in Accra, demanding the retrieval of a GH¢9 million provident fund.

This fund, meant to support the welfare of KTU’s over 500 members, has been in limbo since 2022, prompting mounting frustration and collective action.

The decision to protest stems from SIC’s ongoing failure to release insurance packages for retirees, beneficiaries, and members in need of medical support.

According to Daniel Mbimab, Chairman of the Technical University Senior Administrators Association of Ghana, staff contributions to the fund have effectively been stalled since 2010, leading the university to sever ties with SIC.

Efforts to recover the funds have repeatedly met roadblocks, leaving the association in an endless cycle of appeals.

“We have been saving…for so many years, and they have the money in their custody; they should refund the money to us,” Mbimab stated, underscoring the urgency felt by the entire university community.

The impact of SIC’s inaction has been devastating, with several members reportedly passing away without accessing their savings, and others facing dire financial constraints.

“Some are critically ill,” Mbimab revealed, adding that the families of deceased members are now left without essential financial support.

This picket is seen as a last-resort measure, with KTU staff resolved to stand together in pursuit of what they believe is rightfully theirs.