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How to Get your Mutual Fund Contribution after Exiting a teacher Union

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What is a mutual fund?

A mutual fund is a professionally managed investment vehicle that pools money from a number of individuals to buy securities.

What is GNAT Mutual Fund?

The GNAT Mutual Fund is a fund created by a Trust Deed in May 1998 as a retirement supplement and Solidarity program for the Ghana National Association of Teachers (GNAT).

The Fund began with a check-off method that deducted GHC0.10 (1.000) from GNAT members’ salaries each month as basic payments.

Which teacher unions in Ghana have mutual funds?

The following teacher unions mutual fund package for its members;

  • Ghana National Association of Teachers (GNAT)
  • National Association of Graduate Teachers (NAGRAT)
  • The coalition of Concerned Teachers, Ghana (CCT-GH)
  • All Teachers Alliance Ghana (ATAG)

What are the minimum and maximum contributions for the mutual fund?

In February 2002, the baseline contribution was raised to GH 0.50 (5,000.00) and again to GH 2.50 (25,000.00) in October 2004.

The baseline contribution was increased to GH5.00 in February 2008, and subsequently to GH10.00 in January 2011.

The baseline payment was GH20.00 in March 2014, and it was raised to GHC30.00 in January 2015. The baseline contribution was increased to GHC50.00 in February 2017, taking effect from February 2017.

However, as time passed, there has been the emergence of other unions and the mutual fund deductions are stated in the table below;

Minimum Deductions of Mutual Fund Contributions of Teacher Unions in Ghana

Teacher UnionMinimum Mutual Fund Deduction (GHS)
GNAT50.00
CCT-GH20.00
NAGRAT50.00
ATAG25.00
Innovative TeachersNo Deduction
Minimum Deductions of Mutual Fund Contributions of Teacher Unions in Ghana

How to check mutual fund contribution?

The various unions have launched online portals and shortcodes where contributors can check and access their membership status and check their contributions as well.

The shortcode for checking GNAT mutual fund contribution is *800#.

The coalition of Concerned Teachers-Ghana Members should dial *711*122# to access their CCT-GH mutual fund contribution.

Meanwhile, some unions have launched portals for their members to access their mutual fund contributions.

NAGRAT members can access their mutual fund contribution by logging on to the member portal using their staff ID and password.

ATAG members can access their mutual fund contributions by visiting https://atag.org.gh/mutual-fund/.

How to change or Exit from a teacher union in Ghana.

  • Log onto your Payslip Portal and choose ‘change of Association Form’ from the drop-down menu.
  • From the ‘Select New Association’ button, choose the association you want to join.
  • Click on ‘Send’
  • Your new association is expected to be effected on your payslips within 2-3 months.

How to Get a Refund of Mutual Fund Contribution

  • First of all, change the association on your epayslip portal.
  • Visit the union office in your district or municipal
  • Fill out an exit form.
  • Write a refund letter attached to the exit form.
  • Wait for a period of 1 to 3 months for your check to be issued.

GNAT, NAGRAT, CCT-GH, ATAG Partial Withdrawal of Mutual Fund Contribution

GNAT, NAGRAT, CCT-GH, and ATAG do not allow partial withdrawal of mutual fund contributions unless you exit from the union.

In that case, your contribution is paid to you

How to Get your Mutual Fund Contribution after Exiting a teacher Union