Tag: SSNIT
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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,…
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Make SSNIT independent to prevent gov’t interference—Economist
Economist Professor Godfred Bokpin is calling for a policy that will limit the powers of government in appointing the head and Board of Directors of the Social Security and National Insurance Trust (SSNIT) to protect pension funds. President Akufo-Addo during the Workers Day celebration announced that the government will issue a 700 million cedis bond…
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Public sector pensioners decry meager SSNIT benefits
As Ghana joins the rest of the world to mark International Labour Day on May 1, 2019, some pensioners retiring from the public sector want the managers of the Social Security and National Insurance Trust (SSNIT) to modify their operations to improve the living conditions of beneficiaries. The pensioners tell Citi Business News the meager…
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SSNIT engages government on GH¢1bn arrears
The Social Security and National Insurance Trust (SSNIT) says it is confident of accessing claims due it from the government to aid its operations. As at last year (2018), the outstanding claims that the government was expected to give to the pension management firm, was estimated at one billion cedis. Some industry watchers have attributed…
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SSNIT stops biometric cards, connects to National ID system
The Social Security and National Insurance Trust (SSNIT) has disclosed that it should connect its systems to the National Identification Authority for a common card, by next year [2019]. As a result, the Trust is seizing the issuing of biometric cards to its contributors. The Director General of SSNIT, Dr. John Ofori Tenkorang explained that…
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Banks’ recapitalization impacts dividend payment to SSNIT
The Social Security and National Insurance Trust (SSNIT) has disclosed that most banks it is a shareholder in, have been unable to pay dividends for last year due to the increase in the minimum capital requirement. The Director General of SSNIT, Dr. John Ofori Tenkorang explains to Citi Business News this has also affected the…
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SSNIT moves to clear ‘ghost’ pensioners from payroll
The Social Security and National Insurance Trust (SSNIT), has disclosed to Citi Business News that it will from next month stop paying claims to pensioners who have failed to undertake their biometric registration with the Trust. Per the move, pensioners 72 years and above will be considered as ‘ghosts’ hence will not be able to…
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SSNIT increases minimum pension benefit to GH¢303
Existing pensioners with the Social Security and National Insurance Trust (SSNIT) will from January 2018 enjoy ten percent increase in the benefits paid by the Trust. It follows the upward review of the minimum pension paid to contributors which takes effect this year. Per the move, pensioners on the payroll of SSNIT will now get…
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SSNIT sacks MIS Manager over fake degrees
The Social Security and National Insurance Trust (SSNIT), has sacked its General Manager in charge of Management Information Systems (MIS), Dr. Caleb Afaglo, for securing a job at the Trust with fake degrees. Dr. Afaglo was initially interdicted by the Trust. SSNIT in a statement released today [Wednesday], says “evidence made available to the Trust indicates that the…
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SSNIT scandal: Guilty officials to face 5-year jail term
The Chief Executive Officer of the Public Procurement Authority, Agyenim Boateng Agyei has said that persons found culpable in SSNIT’s OBS project scandal after the Authority’s audit, will face a jail term of at least 5 years. Speaking on Eyewitness News on Tuesday, Mr. Boateng Agyei said the Authority’s audit will cover every aspect of the deal and will reconcile…