SSNIT is not an investment company – D-G

Dr John Ofori-Tenkorang

Dr John Ofori-Tenkorang, the Director-General (D-G) of the Social Security and National Insurance Trust (SSNIT) has said the Trust remains an insurance, but not an investment company.

He said last year alone, the Trust paid GH¢3.18 billion, and explained that the Trust insured occupational incomes to provide sound future financial security for formal and informal sector employees.

Dr Ofori-Tenkorang entreated contributors and pensioners not to allow themselves to be swayed or be deceived, assuring that employees’ contributions and pensions were always secured with the Trust.

Speaking at an educational engagement forum on the Trust’s pensions in Sunyani, the D-G said the entitlement or pension right of contributors were measured by their salaries and one’s number of years in active service.

The SSNIT organised the forum to sensitize leaders of the Trade Union Congress (TUC) drawn from the Bono, Bono East and Ahafo Regions.

Dr Ofori-Tenkorang stated the Trust was set up by a statute and had several benefits for contributors, explaining that only employees between 15 and 45 years could join and contribute to the Trust.

He regretted despite its numerous benefits, the Trust had only 1.7 million active contributors.

Dr Ofori-Tenkorang directed all branch Managers of the Trust to endeavour to sit down with workers, listen to them and address their pressing concerns and grievances.

He reminded the Managers that their salaries were paid from the contributions of workers, hence, the need for them to build and strengthen good relationships with both formal and informal sector employees and avail themselves adequately to address issues relating to their contributions.

Dr Ofori-Tenkorang emphasised workers’ contributions and pensions guaranteed their future security, saying all issues relating to pensions ought to be given the necessary attention.

Mr Joshua Ansah, the Deputy Secretary-General of the TUC advised employees to prepare adequately for retirement by joining pension schemes.

Source: GNA

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