GNAT Mutual Fund Partial Withdrawal-Members Demand for its implementation.

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GNAT Mutual Fund Partial Withdrawal-Members Demand for its implementation.

some groups of teachers have called on the Management of the Ghana National Association of Teachers (GNAT) to consider implementing the partial withdrawal package of mutual fund contribution to its members.

According to the members of the association, the mutual fund is expected to be interested in the period of active service and not retirement.

The mutual fund was created only to complement SSNIT as a pension supplement. While SSNIT is concerned with the period following active service, mutual funds should be concerned with the period preceding retirement.

The notion that a mutual fund is a pension supplement should instead be used to assist members better their lives while they are still in active service.

“The reason I commend it is that it provides a borrowing facility, but this is insufficient to execute a partial withdrawal. As our leaders understand it, the adoption of partial withdrawal is more of an opportunity for the members than a threat to the fund”, a member explained.

How can GNAT introduce Partial Withdrawal of Mutual Fund?

The GNAT Mutual Fund Withdrawal can be introduced by the management of the association by capping it at say 30% bi-annual beyond which one cannot withdraw.

This would give people the opportunity to have access to their money to invest in a viable business while they’re in active service so that before they retire, they would have established themselves in a thriving business.

But to encourage members to go for loans and use their contributions as collateral for this same purpose isn’t helpful.

Its implementation is never injurious to the welfare of the fund and its members as compared to the exodus of members.

How GNAT members Access their Mutual Fund Contribution

GNAT members access their mutual fund contributions by exiting the union. They request a refund by filling out the refund form at their respective districts or municipal GNAT offices.

Read More on how to get a refund of all your mutual fund contributions after exiting a teacher union.


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).

The Fund’s assets have increased from around GHC 1.50 million in May 1998 to GHC 745 million in December 2016, with investments in treasury bills, listed shares, private placements, loans and facilities to members, real estate projects, and subsidiaries accounting for the majority of the increase.

The Fund has the largest loan portfolio among its members. However, the fund does not allow its members to make a partial withdrawal. Contributors only benefit from their contribution at their retirement period.

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