Pensioners

SSNIT Pays GHȼ447M To Over 250K Pensioners For August 2024

SSNIT Pays GHȼ447M To Over 250K Pensioners For August 2024

The Social Security and National Insurance Trust (SSNIT) has disbursed a total of GHȼ447 hardware, comprising GHȼ447.07 million to 250,580 pensioners for August 2024. The payment, made on August 15, 2024, covered pension benefits under both PNDC Law 247 and Act 766. SSNIT reported that the highest monthly pension under PNDC Law 247 amounted to GHȼ186,777.58, while the highest under Act 766 was GHȼ26,509.66. The lowest monthly pension for existing pensioners was GHȼ409.10, with the minimum monthly pension for new pensioners set at GHȼ300.00. The next pension payment is scheduled for September 19, 2024. This payout highlights SSNIT’s continued dedication…
Read More
SSNIT Donates GHS1M For Pensioners’ Healthcare

SSNIT Donates GHS1M For Pensioners’ Healthcare

The Social Security and National Insurance Trust (SSNIT) has continued its support for the National Pensioners Association (NPA) by presenting a cheque of GHS1 million. This donation is specifically aimed at supporting the healthcare of pensioners enrolled on the NPA’s Pensioners Medical Scheme (PMS). This contribution is in fulfilment of a commitment by SSNIT’s Management made in 2017 to prioritise the well-being of pensioners under the SSNIT Scheme in the country. The Trust has previously demonstrated its commitment to supporting the NPA. In 2018 and 2019, SSNIT presented amounts of GHS300,000.00 and GHS500,000.00 respectively to support the Pensioners Medical Scheme.…
Read More
Bear With Us, Ability To Pay Your Bonds A Struggle – MoF Begs Pensioners

Bear With Us, Ability To Pay Your Bonds A Struggle – MoF Begs Pensioners

The Deputy Finance Minister Abena Osei Asare has said the government's failure to meet coupon deadlines for pensioner bondholders is not on purpose. "We don't intentionally stop them [payment], sometimes it's difficult, it is the ability to pay and, so, when it is not there, it becomes a challenge, but we also have to communicate that to you", she told the picketing pensioners on Thursday, 1 June 2023. The pensioners resumed their picketing after the government, once again, failed to honour its side of the bargain regarding the deadlines for coupon payment. Explaining issues to the seniors who defied the…
Read More
Pay Subsequent Coupons And Matured Principals On Due Dates – Pensioners To Government

Pay Subsequent Coupons And Matured Principals On Due Dates – Pensioners To Government

The Pensioner Bondholders Forum has urged the Government to pay all outstanding coupons and principals on due dates without delay. This follows the delay in payment of the coupons and matured principals despite the fact that most pensioners were exempted from the Domestic Debt Exchange Programme(DDEP). The Ministry of Finance per its letter of 15th February, 2023 to the Forum confirmed that all pensioner bondholders who opted not to participate in the DDEP had been exempted from the DDEP. However, the Pensioners stated that there had been some inconsistencies in the payment of their subsequent coupons and matured principals, hence…
Read More
There Is No Locked Up Pension Balance To Be Collected; Disregard Reports – SSNIT

There Is No Locked Up Pension Balance To Be Collected; Disregard Reports – SSNIT

The Social Security and National Insurance Trust (SSNIT) is advising the public, particularly pensioners to disregard calls by some unscrupulous persons that they could help them claim their benefit from the trust. In a statement, the Trust, said management of SSNIT wishes to inform the public to disregard such calls as there is no “locked up pension balance to be collected”. It explained that the trust has not engaged or commissioned any individual or body to assist pensioners to claim any benefit from SSNIT. It cautioned the public not to engage any individual or body purporting to act on behalf…
Read More
Pensioner Bondholders Continue Picketing Finance Ministry Over Domestic Debt Exchange

Pensioner Bondholders Continue Picketing Finance Ministry Over Domestic Debt Exchange

The Pensioner Bondholders Forum has continued its protest against the inclusion of their investments in the Domestic Debt Exchange programme. Members of the forum have returned to the Finance Ministry to picket for the sixth day. Their picket is to demand a total exemption of their investments from the programme. The former Chief Justice, Sophia Akuffo on Friday, February 10, joined the protest. She threatened to sue the government if their pension funds are included in the debt exchange programme. The pensioners have already rejected the government’s 15% coupon rate. The retirees have stated that they will not accept any…
Read More
Debt Exchange: We Are Creating Incentives For Political Elite To Govern, Borrow And Use Anyhow – Bokpin

Debt Exchange: We Are Creating Incentives For Political Elite To Govern, Borrow And Use Anyhow – Bokpin

Professor of Finance and Economics at the University of Ghana Business, Professor Godfred Bokpin, is warning of recurrence of debt restructuring if individual bondholders and pensioners are force to sign onto the Domestic Debt Exchange Programme. According to him, the nation is creating a governance system whereby governments will mismanage the economy and then later resort to debt restructuring. “Look, if we do not correct that canker and we coerce our own people, pensioners and the rest of them, we will go through this and probably less than three years, there may be the need to restructure our debts again”,…
Read More
Gov’t Has Paid Gh₵3Billion To Over 200,000 Pensioners Since January- Adenta Kumi

Gov’t Has Paid Gh₵3Billion To Over 200,000 Pensioners Since January- Adenta Kumi

Member of Communication for the New Patriotic Party, Alfred Ababio Kumi, popularly addressed as Adenta Kumi has revealed the payment of Gh₵3 billion to over two hundred thousand pensioners by the ruling government since January. Speaking to Kwaku Dawuro, in an interview on Movement In The Morning, on Wontumi radio/ Movement TV, Adenta Kumi noted that the government is not misusing the money that goes into the public purse. but is rather using it efficiently to the benefit of Ghanaians. Adenta Kumi during the interview said ''I'll like to go into the issue direct, but I've seen this week that…
Read More