SSNIT

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

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

Wontumi1Business, ,
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…
Read More
Employers Urged To Promote SSNIT To Increase Contributors
21 Aug

Employers Urged To Promote SSNIT To Increase Contributors

Wontumi2Business
Dr John Ofori-Tenkorang, the Director-General of Social Security and National Insurance Trust (SSNIT), has appealed to employers to back up efforts at awareness creation on the benefits of the Trust to boost the number of contributors. He said SSNIT was a lifelong insurance scheme available to every worker between the ages of 15 and 45, who was “engaged in honest and good employment” in the public and private sectors. The Director General of SSNIT made the call during the Fourth Employers’ Breakfast Meeting in Koforidua at the weekend, on the theme: “Provide Pension for All: The Role of Employers.” The…
Read More
SSNIT Retrieves GH¢132 Million From Employers Through Court Action
09 Aug

SSNIT Retrieves GH¢132 Million From Employers Through Court Action

Wontumi2News
The Social Security National Insurance Trust (SSNIT) says it has retrieved GH¢132 million from 2,272 cases filed at the law court within the first half of 2023. The cases were related to employers who failed to honour statutory social security obligations on behalf of their employees. The Director-General of SSNIT, Dr. John Ofori-Tenkorang made this known at the 4th edition of Employers Breakfast Meeting held on the theme, “Providing Pension for All, the Role of Employers” in Accra. He indicated that as at the end of 2022, there were 83,773 active establishments on the SSNIT database with 63,667 complying with…
Read More
SSNIT Encourages Workers To Negotiate For Better Basic Income
19 Jun

SSNIT Encourages Workers To Negotiate For Better Basic Income

Wontumi2Business
Mr Charles Akwei Garshong, Public Affairs Manager, Social Security and National Insurance Trust (SSNIT), has urged workers to negotiate for a basic income component of their salaries which outweighs their allowances. Doing so, he said, would enable them to have better pension benefits. He observed that most employers would prefer paying low basic income and higher allowances to employees to avoid paying higher social security contribution for employees which was calculated on basic income. “If the basic is small, it simply means your pension will be small because when we are calculating your pension, we will not take into consideration…
Read More
SSNIT Intensifies Drive To Insure Over 500,000 Self-Employed Workers
13 Jun

SSNIT Intensifies Drive To Insure Over 500,000 Self-Employed Workers

Wontumi2Business
The Social Security and National Insurance Trust (SSNIT) is intensifying activities to register more than half a million self-employed workers by the end of the year under the Self-Employed Enrolment Drive (SEED). The focus on pension plan for the self-employed is to provide income replacement and a guaranteed source of income during old age or permanent disability for the self-employed mostly in the informal sector. Out of an estimated workforce of 11.5 million, according to the 2021 Population and Housing Census, there are over 9.9 million working population with 6.7 million being self-employed in the informal sector, which forms about 85 per cent of the…
Read More
SSNIT Urges Informal Sector Workers To Secure Their Retirement
09 Jun

SSNIT Urges Informal Sector Workers To Secure Their Retirement

Wontumi2Business
The Social Security and National Insurance Trust (SSNIT) has said it is making efforts to increase informal sector workers’ enrolment in the scheme. This is been done under the newly launched Self-Employed Enrolment Drive (SEED) campaign, which aims to provide a reliable source of income and financial independence for workers during retirement or periods of inactivity. To raise awareness about the importance of social security, SSNIT organized a sensitization workshop for journalists from the Upper East and Northern Regions. The workshop emphasized the significance of SEED in extending pension coverage to self-employed individuals and informal sector workers, offering them a…
Read More
Only 2% Of Active SSNIT Contributors Are Self-Employed – Director-General
12 May

Only 2% Of Active SSNIT Contributors Are Self-Employed – Director-General

Wontumi2Business
The Director General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang has revealed that a mere 2 percent out of the 1.9 million SSNIT contributors are self-employed, a situation he described as disturbing. Currently, only 32,000 self-employed workers contribute to the scheme regularly out of the 1.9 million regular contributors. Nine months ago before the enrolment of an aggressive drive to rope in more self-employed contributors, the figure was only 14,000. “Unfortunately, only about 1.9 million of the 10 million or so workers in the country are covered under the SSNIT scheme. What is more disturbing…
Read More
12 May

Number Of Self-Employed Persons Enrolled In SSNIT Pension Scheme Doubles

Wontumi1Business, ,
The number of self-employed persons enrolled in the Social Security and National Insurance Trust (SSNIT) pension scheme has doubled in the past nine months. This follows the rollout of a Self-Employment Enrolment Drive to provide pensions and related benefits to self-employed workers. It is in line with the Trust’s mandate to extend pension coverage to all workers, especially the self-employed. Director-General, John Ofori-Tenkorang, Dr. John Ofori-Tenkorang, at the launch of the Self-Employment Enrolment Drive (SEED) in Kumasi in the Ashanti regional capital said there is a need for the Trust to embark on aggressive marketing to attract the informal sector. “We…
Read More
We’ve Saved Over GHS500 Million Through Improved Internal Controls – SSNIT
11 Feb

We’ve Saved Over GHS500 Million Through Improved Internal Controls – SSNIT

Wontumi2Business
The Social Security and National Insurance Trust, SSNIT, has announced that it has since 2017 made a total savings of GHS512 million. According to SNNIT, the amount was realized from strengthening a number of internal controls among others. Speaking to Citi Business News on the sidelines of a Presentation of a Toyota Hilux pickup to the National Pensioners Association, NPA, the Director-General of SSNIT, Dr John Ofori-Tenkorang indicated that the company is committed to maximizing funds of contributors. “To meet these obligations, we will continue to adopt innovative ways to grow the fund and carry out further cost-cutting measures. Already,…
Read More
SSNIT Increases 2021 Pension Pay
07 Jan

SSNIT Increases 2021 Pension Pay

Wontumi2Business
The Social Security and National Insurance Trust (SSNIT), in accordance with Section 80 of the National Pensions Act 2008 (Act 766), on Thursday said the indexed monthly pensions have been increased upwards by 10 per cent 2021. SSNIT working in consultation with the National Pensions Regulatory Authority (NPRA) said all Pensioners on the SSNIT Pension Payroll as at December 31st, 2020 will have their monthly pension increased by a Fixed Rate of 9.34 per cent representing the annual average price inflation, plus a redistributed flat Amount of GH¢6.47. “Accordingly, Pensioners receiving the minimum pension of GH¢300.00 as at December 31st,…
Read More