Leveraging pension power: How Ghanaian trade unions can turn capital into Worker rights
Globally, organised labour is navigating an unprecedented structural crisis. Membership densities continue to dwindle, undermined by expanding informal economies, shifts in employment relationships like casualisation, and subtle to aggressive corporate anti-union practices. In response, the international labour movement under the guidance of the International Trade Union Confederation (ITUC) has…
In response to the rapidly changing landscape of organised labour, Ghana's trade unions must harness the financial influence of public sector workers' pension funds. These pension schemes have grown into financial powerhouses, with HSOPS alone boasting assets exceeding GHS 7 billion and holding significant stakes in major banks.
However, these pension funds are often channelled into corporations that engage in anti-union practices, such as discouraging workers from joining unions, delaying Collective Bargaining Agreements, and punishing union leaders. This creates a paradox where workers' contributions are being used to undermine their own rights. To combat this, Ghanaian trade unions must incorporate Active Capital Stewardship into their organising strategy.
This involves pushing for strict Labour-Related ESG criteria for fund investments, conditioning access to pension capital on compliance with international labour standards, and using significant holdings to audit labour relations inside investee entities. Through these measures, unions can exert pressure on corporations to respect workers' rights and facilitate meaningful unionisation.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
