The Ghana National Association of Teachers (GNAT) has given the National Pensions Regulatory Authority (NPRA) a 72-hour ultimatum to release its share of the 80-month contribution, failure of which it will embark on strike.

The teachers claim NPRA has turned itself into a custodian and a fund manager at the same time against the National Pensions Act, Act 766.

“What is even more serious is that contributors go to NPRA for their benefits and NPRA rather refers the retirees back to the teacher unions for the payment of their benefits,” General Secretary David Ofori-Acheampong revealed on Tuesday while addressing journalists in Accra.

He bemoaned the inadequate pensions retirees in the past 15 years have to settle for after years of service.

He said they have waited for far too long and “our patience is running out”.

Among a number of industrial actions is a work-to-rule policy to be activated two weeks into the 2018/2019 academic year.

“We have been compelled to take this strategy because the NPRA, the regulator, has turned itself into fund manager and custodian so if the trust board has any operational challenges, where do they go for resolution?”