Tag: SSNIT
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Austin Gamey calls for strategic investment of SSNIT funds for better yields
A labour consultant, Austin Gamey has called for better investment of funds contributed to the Social Security and National Insurance Trust (SSNIT), in order to ensure better yields and better payouts to Ghanaian workers. The comment follows an announcement by SSNIT that monthly pensions for 2021 have been adjusted upwards by 10 percent. According to…
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SSNIT increases 2021 pension by 10%
The Social Security and National Insurance Trust (SSNIT), in consultation with the National Pensions Regulatory Authority (NPRA), and in accordance with Section 80 of the National Pensions Act 2008 (Act 766), has indexed monthly pensions upwards by 10% for the year 2021. This increment shall be implemented as follows: All Pensioners on the SSNIT Pension…
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Workers must understand their contributions determine their benefits – SSNIT Board Chair
The Chairman of the Board of Trustees of the Social Security and National Insurance Trust (SSNIT), Dr. Kwame Addo-Kufuor, has called on members of the National Association of Pensioners (NPA), to support the Trust’s effort in educating the public on the SSNIT Scheme. Dr. Addo-Kufuor explained that the bane of most retirees was the low…
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Group to strike on Oct. 28 over meagre lumpsum benefits for retirees
The Forum for Public Sector Registered Pension Schemes, has intensified its advocacy for an appropriate retirement package for pensioners under the Social Security and National Insurance Trust (SSNIT). It has for the second time, scheduled a strike over demands of an increment in pension benefits for its members. According to the group, current retirees are…
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COVID-19: Tax Analyst urges further talks on SSNIT’s ability to help contributors
A Tax Analyst, William Demitia, is advocating for a thorough discussion of the efficiency of SSNIT’s operations to assess the Trust’s ability to allow contributors draw down on funds to mitigate the impact of COVID-19. Former President John Mahama has suggested that SSNIT contributors be allowed to access some of their contributions in these difficult…
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COVID-19 impact: Making payments to contributors would be illegal – SSNIT tells Mahama
The Social Security and National Insurance Trust (SSNIT), has explained that it would be illegal under the current law that set up the Trust for them to make payments to contributors over a three-month period to mitigate the social and economic impact caused by the outbreak of the novel Coronavirus. This follows a suggestion by…
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Registrar Generals Dept., other state agencies shut their doors over partial lockdown
Several businesses that are not in the essential services category including key state institutions have shut down their offices for the next two weeks in line with the partial lockdown. President Nana Addo Dankwa Akufo-Addo in imposing a lockdown on the Greater Accra Metropolitan Area including Kasoa in the Central Region, and the Greater Kumasi…
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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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SSNIT to cease lump sum pension payments from 2020 – Employment Minister
From next year (2020), all pensioners on the new pension scheme, will access their lump sum payments from the managers of pension schemes other than the Social Security and National Insurance Trust (SSNIT). By this, the state pension’s manager, SSNIT will only be mandated to pay monthly benefits to pensioners. Employment and Labour Relations Minister,…
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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.…