THE TEACHERS FUND IS A RETIREMENT SUPPLEMENT
SCHEME FOR THE GHANA NATIONAL ASSOCIATION OF TEACHERS
(GNAT) ESTABLISHED BY A TRUST DEED IN MAY 1998.
OUR PRODUCTS
There are four main loan facilities that members of the Fund can access to meet their financial needs.
Personal Loan
This loan facility has been designed to assist members meet their short-term financial obligations such as payment of School fees, rent advance and any other general repairs at home.
Habitat Loan
This facility has been put together to support a greater number of GNAT members who desire to solve their accommodation challenges or aspire to build their homes before they retire from active service.
Investment Loan
More often than not, members of the Fund have business ideas for which they need funds to finance. The Investment Capital Loan facility has been designed for this purpose.
Vehicle Loan
This facility is meant to finance the purchase of vehicles by loan applicants. It is the only loan facility at the Fund that cheques are not written in the name of the applicant rather it is in the name of the vehicle vendor.
MEMBER BENEFIT
Contributions
As a member of the Teachers’ Fund, one is expected to make a monthly contribution to the Fund which is then invested on behalf of the member. There are two category of member contributions- the Basic contribution and the Optional contributions.
Group Solidarity
Members are eligible for the group solidarity package in the event of death and permanent disability. Upon the death of a member, a package comprising his total contributions together with his accumulated return and an amount of GHC 500.00 is paid to the next of kin
Retirement
Each member is entitled to an exit package of a lump sum from the Fund on retirement. This lump sum package is made up of one’s total contributions and the Interest that the amount has generated over the years. Exit package for deceased members are paid to their Next of Kin.
Death
Upon the death of a member, an exit package is calculated and paid to the deceased member’s nominated Next of Kin (Beneficiaries) according to the percentage allocation as determined by the member whilst he/she was alive.
RETIRE IN STYLE WITH TEACHERS FUND
Total Contribution + Return on Investment = Retirement Lump Sum
TESTIMONIALS
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Teachers Fund Digitalization Project
The Teachers Fund Digitalization Project marks a significant leap towards enhancing financial accessibility and convenience for members. This comprehensive initiative encompasses the development of a Mobile App, a USSD service, and a Web Portal, each designed to cater to the diverse needs of our members.
CHANGE IN BASIC CONTRIBUTIONS
In February 2017, the basic contribution was GH₵50.00. The basic contribution was further reviewed upwards to GHC100.00 with effect from January 2024.