FWSC CEO Proposes Hourly Wage Payment To Boost Fairness And Economic Growth

In a bid to promote fairness and transparency in compensation across all sectors, Mr. George Graham, the Chief Executive Officer of the Fair Wages and Salaries Commission (FWSC), has proposed the introduction of an hourly wage payment system.

This initiative aims to particularly benefit casual workers and is expected to have far-reaching implications for the labor market and economic growth.

During a recent familiarization visit by the Parliamentary Select Committee on Employment, Labour Relations, and Pensions to key institutions including the FWSC, National Pensions Regulatory Authority (NPRA), and the Management Development and Productivity Institute (MDPI), Mr. Graham emphasized that implementing an hourly wage system could significantly increase disposable income for workers.

The proposal also seeks to formalize the informal labor market and expand access to social protections, which could stimulate overall economic growth.

At the NPRA, discussions centered around policies that allow individuals aged 50 and above who are permanently unemployed to access their tier-2 pension funds.

However, this access is contingent upon formal employer confirmation and approval from the Labour Department.

Chris Boadi-Mensah, CEO of NPRA, further suggested raising the retirement age from 60 to 65 as a measure to enhance pension sustainability and mitigate exploitation of existing systems.

Meanwhile, Professor Elijah Yendaw, Director General of MDPI, highlighted pressing challenges faced by the institute, including inadequate office space and insufficient staff training.

He underscored that with appropriate investment and support, MDPI could leverage its robust human resources and extensive experience to make significant contributions toward national development goals.

The Chairman of the Committee, Hon. Joseph Appiah Boateng, explained that the purpose of this visit was to assess the current operations of these agencies.

The committee aims to identify areas needing improvement while formulating strategies to enhance service delivery and operational efficiency across these critical institutions.

As discussions advance on these proposals, stakeholders remain hopeful that such reforms lead to a more equitable labor market in Ghana.

Story Written By Adu Kingsley | Kobby Kyei News

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