Membership Statement For Teachers' Fund now available. DOWNLOAD NOW
The membership statement for the Teachers Fund is now accessible for viewing.Kindly visit http://teachersfund.org.gh/ and select the member portal to view your statement.
You can also get the statement by calling *888# and choosing option 5.
You can subsequently view and download your statement, which contains vital details regarding your Teachers Fund membership, specifically donations, balances, and any other pertinent information.
The Teachers Fund was formed by a Trust Deed in May 1998 as a retirement supplement and Solidarity fund for the Ghana National Association of Teachers (GNAT).
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The Fund began with a monthly deduction of GHC0.10 (1.000) from GNAT members' salaries using a check-off method.
ABOUT THE TEACHERS' FUND
In February 2002, the basic payment was raised to GH¢ 0.50 (5,000.00), then in October 2004, to GH¢2.50 (25,000.00).
The basic payment was raised to GH¢5.00 in February 2008, then to GH¢10.00 in January 2011.
The basic contribution was GH20.00 as of March 2014, and it was increased to GH¢30.00 in January 2015.
The baseline contribution was increased to GH¢50.00 with effect from February 2017.
The Fund's assets have grown from approximately GH¢ 1.50 million in May 1998 to GH¢2,341,265,114.73 as of March 2022, represented by investments in treasury bills, listed equities, private placements, loans and facilities to members, real estate projects, and subsidiaries.
The Fund's major investment is in loans to its members.
The Fund's commitment to providing strong returns on investment is partly responsible for the Fund's outstanding asset growth.
OBJECTIVES
The following are the goals of the Fund:
1.) Retirement supplement - the members' monthly contributions serve as savings.
These are invested to generate profits. When a member retires, he receives a package that includes the total amount of contributions he has made over the years, as well as the returns on those contributions.
2.) Provision of lifestyle-enhancing facilities - The Fund provides four types of loans to its members in order to improve their lifestyles and ensure that they live comfortably.
There are four types of loans: personal loans, investment capital loans, home loans, and vehicle loans.
3.) Credit purchases from Credit Mall Limited - The Fund has formed Credit Mall Limited as a completely owned subsidiary to sell home consumer items to members on credit.
4.) Real Estate Ventures - The FUND attempts to fulfill members' housing needs by offering housing and accommodation facilities to interested members.
It is also involved in the development and rental of hostels and office space.
It is important noting that any initiative or action undertaken by the FUND is intended to achieve its principal goal (i.e. aim 1), which is to provide contributors with a retirement supplement package.
Accordingly, the loans and facilities made available to contributors, as well as the operations of Credit Mall Limited and the Real Estate Venture, are projected to create earnings that will be returned to members as returns on their investments.
VISION
To be the top performing private solidarity fund in Ghana by improving contributors' welfare and quality of life.
MISSION
The GNAT Mission Teachers Fund is dedicated to improving the well-being of our members through smart investments, innovative technologies, and a well-motivated and competent personnel.
Credit: dialynewsshowroom.com
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