The Health Service Workers’ Union (HSWU) of the Trades Union Congress (TUC) Ghana has urged members to secure their financial future by joining and consistently investing in the Union’s Tier Three Pension Fund to enjoy a better retirement.

It said workers must not wait until retirement before planning for their financial security as long years of service could become difficult if adequate preparations were not made during their working lives.

The leadership of the Union in the Central Region made the call at a symposium to mark their 82nd anniversary on the theme: “Securing our future together: Harnessing the power of HSWU Fund (Tier 3) and collective unity for sustainable wealth.”

The anniversary provided an opportunity to celebrate the union’s history and reflect on the future of its members.

Mr Joseph Emmanuel Anowie, Regional Chairman of HSWU, noted that the union introduced the fund two years ago because benefits from Tier One and Tier Two pensions alone might not be enough to sustain members after retirement.

“Illnesses and other situations are inevitable after retirement but with adequate financial backing, you can withstand all challenges.

“‎The time has come to secure our future because our future is in our own hands and nobody will secure it for us,” he stressed.

Mr Anowie explained that under the regulations of National Pensions Regulatory Authority (NPRA), members were expected to keep their contributions for 10 years before making withdrawals.

He said members contributed a minimum of GH¢50 monthly to the fund, with the option to increase their contributions if they so wish.

Touching on welfare, the chairman said the union had introduced several welfare initiatives, including a land acquisition programme, hire purchase agreement, and a loan scheme to enable members live a better life.

He urged members to remain committed to the Union and take advantage of the various welfare schemes designed to improve their lives before and after retirement.

Dr Eric Kofi Ngyedu, the CEO of the Cape Coast Teaching Hospital (CCTH) and honorary member of the Union, expressed concern that some health workers, despite spending years working long hours and night shifts, retired with little financial security.

He, therefore, reiterated the need for workers to take responsibility for their future rather than depending solely on their pensions.

Dr Ngyedu stressed that the accumulated funds from Tier three contributions could help workers meet important needs after retirement, including housing, children’s education, starting a business or maintaining a dignified standard of living without financial anxiety.

He noted that the success of the fund would depend on members’ commitment, transparent management, and trust, adding that the scheme rewarded patience and discipline.

He urged workers to support one another, participate actively in Union activities, and take collective ownership of initiatives designed to improve their livelihoods.

The CCTH CEO commended the leadership and members HSWU for sustaining the union for 82 years and urged them to apply the same spirit of unity to securing their financial future.

For his part, Mr Serene Akpanya, Regional Deputy Director of Administration, representing the Regional Director of Health Services, entreated the Union to invest in the establishment of hotel and hostel accommodations and buses across all regions to benefit the members.

He said such investments would generate revenue for the Union and mitigate the stress its members endured when they travelled.

Mr Stephen Kwame Mensah-Wood, Regional Industrial Relations Officer of the Union, appealed to members who have broken away from the Union to return, saying unity was critical to protecting members’ interests and strengthening their collective bargaining power.

He said divisions would weaken the Union’s ability to fight for a common goal and urged members to resolve their differences and work together for a better, brighter future.