SSNIT Schools John Mahama On How Ghana’s Pension Scheme Works

SSNIT Schools John Mahama On How Ghana’s Pension Scheme Works

The Social Security and National Insurance Trust (SSNIT) appears to have taken former President John Mahama on a tutorial over Ghana’s pension scheme.

In a release that seems to suggest Mr. Mahama is clueless about pension benefit payments, SSNIT gave an expert explanation of how pension contributions are made.

It would be recalled that Mr. Mahama in his Facebook Live Telecast on 23rd April 2020 made some weird comments about pension contributions and benefit payments in the wake of coronavirus.

According to the former president, “Social security contributions are essentially an insurance scheme made not just for pension and old age before we die. They are also made to help contributors in times of adversities such as this”.

He further suggested that SSNIT makes a token payment to all Contributors over a three (3) month period.

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But the management of SSNIT responded to his comments in a release sent to DailyGuide Online, saying “That SSNIT understands and appreciates the challenges some workers and employers are encountering as a result of the COVID -19 pandemic.”

It says that the benefits provided by social security schemes are country-specific based on the laws governing them.

“That the benefits provided by SSNIT as stated in the National Pensions Act, 2008, Act 766, conforms to the recommendations of the International Labour Organisation (ILO Convention 102).”

“That the laws governing the SSNIT Scheme, the National Pensions Act, 2008, Act 766 (as amended), (sections 34, 70, 71, 72 and 73) categorically states the benefits and the conditions under which SSNIT can pay those benefits.”

SSNIT says it “remains firmly committed to paying over GHS 213 million in monthly pensions to the 213,173 pensioners on the SSNIT payroll as well as honoring payments to all new pensioners that apply.”

It stated “That the Trust will always act in accordance with the law governing its operations.

That Management will at all times protect the viability and sustainability of the SSNIT Scheme.”

“Meanwhile, the Management of SSNIT wishes to assure the general public that it is committed to the safety of its Members and Clients who may visit any of our offices to transact business. We are therefore observing all the necessary safety protocols such as social distancing, washing and sanitizing of hands,” the statement said.

–:Credit: Daily Guide