Tag: Social Security and National Insurance Trust
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NIC to develop annuities market to manage pensioners lump-sum payments
The National Insurance Commission says it is working at developing annuities market to manage lump sums for pensioners following the announcement by the Social Security and National Insurance Trust (SSNIT) that workers who turn 60 from January 1, 2020, will no longer receive lump-sum payments. SSNIT’s announcement directed the contributors to turn to the fund…
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SSNIT pays GH¢ 1.7 billion to pensioners as at July 2019
The Social Security and National Insurance Trust (SSNIT) has paid over GH¢ 1.7 billion to more than 200,000 pensioners on the pension payroll as at July 2019. It has also reduced its average benefits processing time from 21 days in 2018 to 17 days and registered 106 percent of its target leading to a sharp…
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Koforidua SSNIT office retrieves Gh¢ 5.1m contributions for workers
The Koforidua Branch of the Social Security and National Insurance Trust (SSNIT) has recovered a total of Gh¢ 5.1 million as arrears from employers who had not paid contributions for their workers since January this year. The exercise formed part of a massive inspection and compliance campaign aimed at expanding coverage of the SSNIT…
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SSNIT cautions workers against misleading pension schemes
Dr. John Ofori-Tenkorang, Director-General, Social Security and National Insurance Trust (SSNIT) on Tuesday called on workers to be wary of misleading pension schemes that will worsen their plight at pension. He said SSNIT had already built a robust scheme that considered the welfare of contributors and urged them to make use of that advantage. Dr.…
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SSNIT receives GH¢ 9.9 million as dividend from MTN Ghana
MTN Ghana, a day after its maiden Annual General Meeting, has paid out a total dividend of over GH¢9.9 million to its third largest shareholder the Social Security and National Insurance Trust (SSNIT). This follows approval of a final dividend of 3 pesewas per share by shareholders of MTN at the AGM yesterday (May 14,…