Pension scheme

Pension Contributions Hit ₵6.8Bn In 2023
08 Jul

Pension Contributions Hit ₵6.8Bn In 2023

wontumionlineBusiness,
Total contributions to the Social Security and National Insurance Trust (SSNIT) Pension Scheme has reached ₵6.8 billion.j This was captured in SSNIT‘s operations report for 2023. Contribution collections for 2023, showed about a billion cedis jump from the ₵5.8 billion collected in 2022.  In 2021, contributions stood at ₵4 billion while in 2020 SSNIT mobilized ₵5 billion. Breakdown The 2023 operations report showed that, private sector contributions stood at ₵4 billion as against a target of ₵3.5 billion. This represents 113.9 percent of its performance. Public Sector Contributions by December 2023 stood at ₵2.8 billion as against a target of…
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SSNIT Pays ¢372.87M To 241,675 Pensioners In September 2023
04 Oct

SSNIT Pays ¢372.87M To 241,675 Pensioners In September 2023

wontumionlineBusiness, ,
The Social Security and National Insurance Trust (SSNIT) paid a total of over GH¢372.87 million to some 241,675 pensioners in September 2023. This shows the commitment of the pension scheme by the Trust. Currently, the SSNIT Pension Scheme has an active membership of over 1.9 million contributors. Meanwhile, the Trust has held a two-day technical seminar on leveraging digitalisation to extend social security coverage in West Africa has been held in Accra. The seminar was hosted by SSNIT, under the auspices of the International Social Security Association (ISSA) – an international organization for social security institutions, government departments and agencies…
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Pension Scheme For Creative People Is Very Important To President Akufo Addo – Dep. Minister, Mark Okraku-Mantey
07 Nov

Pension Scheme For Creative People Is Very Important To President Akufo Addo – Dep. Minister, Mark Okraku-Mantey

wontumionlineShowbiz,
Deputy minister for Tourism, Arts and Culture Hon. Mark Okraku Mantey has stated how retirement benefits for Ghanaian entertainers is very paramount to President of Ghana, Nana Addo Dankwah Akufo-Addo. Addressing stakeholders in the entertainment industry at on the need for entertainers to plan for their pension when they retire from active music, acting industry, fashion Poetry and creatives in general. The interactive session dubbed “Creative Arts Stakeholders Pension Conversation” which was organized by the Ministry of Tourism, Arts and Culture, took place at the Alisa Hotel on Friday November, 4 2022. It was well attended and received by leaders…
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SSNIT Pension Scheme Continues To Post Negative Return On Investments; Records -12.6% Return In Quarter 1 – Report
28 Sep

SSNIT Pension Scheme Continues To Post Negative Return On Investments; Records -12.6% Return In Quarter 1 – Report

wontumionlineBusiness, , ,
The Social Security and National Insurance Trust (SSNIT) pension scheme continued to post a negative real rate of return, recording -12.6% at the end of the first quarter of this year. According to the Financial Stability Review report by the Bank of Ghana, assets available for benefits of the SSNIT-managed Basic National Social Security Scheme (BNSSS) dropped marginally by 2.3% to ¢11.28 billion in March 2022 from the ¢11.54 billion recorded in 2021 Quarter 4. Also, though the private pensions industry remained resilient in 2021, the worsening macroeconomic conditions in the 1st half of this year present a new challenge…
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