Tag: SSNIT
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Govt’s indebtedness to SSNIT hit GH¢ 560 m
Government’s indebtedness to the Social Security and National Insurance Trust (SSNIT) stood at 560 million cedis as at December 2015. This represents of the total indebtedness to the pensions scheme which is estimated at 640 million cedis. Although the figure is an improvement from the 2014 amount of 1.15 billion cedis, the managers of the…
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SSNIT probes $ 66m software purchase
The Board of Trustees of the Social Security and National Insurance Trust (SNNIT) has begun investigations into how the former management acquired a OBS software System for sixty-six million dollars. The system was installed to network all branches of SSNIT nationwide for purposes of enhancing efficiency. However the current administration at a media interaction on…
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New management commissions audit of SSNIT’s operations
The Social Security and National Insurance Trust (SSNIT) has begun processes to audit the Trust to improve its operations. The exercise is among others expected to inform the managers of SSNIT on the current position of the pensions’ regulator. It is also expected to give an understanding of what new measures ought to be implemented…
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17,000 ‘ghost’ workers yet to be paid April salaries – Finance Ministry
At least 17,000 public sector workers are yet to receive their April 2017 salaries for non-biometric SSNIT registration. A statement from the Finance Ministry and copied to Citi Business News said about 9,300 out of the over 26,000 affected workers have been paid after successful validation. According to the Finance Ministry, the payments amounted to…
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NPRA gets tough on employers to pay SSNIT contributions
The National Pensions Regulatory Authority (NPRA) has renewed its call on companies to ensure the payment of the pensions of their workers. The call comes at a time the regulator is keen on increasing the number of informal workers to enroll onto the nation’s pension scheme. The Authority, early this year, introduced incentives in the…
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26,000 ‘ghost workers’ must be given more time – Austin Gammey
Labour Analyst, Austin Gammey has advised the over 26,000 workers likely to miss their April salaries to negotiate for an extension of the implementation date of the policy. The workers’ plight follows a directive from the Finance Ministry for the Controller and Accountant General to halt the payment of salaries as the workers failed to…
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Removal of 50,000 ‘ghost’ names to save GH¢250m
Government is expected to save 250 million cedis this year as it commences processes to clean the public sector payroll. The amount to be saved from the directive also affects about 50,000 public sector workers. The development has been informed by two actions; one that led to the removal of 26,589 public sector workers’ names…
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SSNIT defends 18% increase in pension benefits
The Social Security National Insurance Trust (SSNIT) has justified its 18% increase in pension benefits. This is despite complaints of pensioners who had hoped for a higher percentage increase of their pensions. The increment is however 2% lower than the 20% increase announced in 2016. The Corporate Affairs Manager of SSNIT, Eva Amegashie who explained…
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SSNIT increases pension benefits by 18%
The Social Security National Insurance Trust (SSNIT) has increased pension benefits of pensioners by 18%. This is however 2 percent lower than that of 2016 which was 20 percent. In 2016, the pension benefits per pensioner was increased from GH¢230.00 to GH¢296.89. The current minimum pension for pensioners on the SSNIT pension scheme is GHc276.00.…
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SSNIT shoots down imminent collapse claims
The Social Security and National Insurance Trust (SSNIT) has dismissed reports that the fund faces imminent collapse over concerns of operational challenges. According to the pensions’ scheme, it has instituted measures to deepen its financial sustainability and meet potential increase in benefit claims. “As a defined benefit scheme, it is based on a certain formula…