SSNIT Pays GH¢2.7bn To Pensioners

The Social Security and National Insurance Trust (SSNIT) has paid a total amount of GH¢2.7 billion to more than 200,000 beneficiaries of the scheme in the last nine months.

The Trust disbursed an amount of GH¢3.6 billion to beneficiaries in 2021.

The Director-General of SSNIT, Dr John Ofori-Tenkorang, disclosed this during an employers’ breakfast meeting held in Takoradi.

The engagement, the first of its kind brought together more than 75 employers in good standing drawn from Takoradi, Cape Coast, Assin Fosu, Axim, Breman Asikuma, and Tarkwa.

It was aimed at strengthening the relationship between the Trust and employers to help deepen their understanding of the operations of the First Tier Social Security Scheme.

Dr Ofori-Tenkorang said the Trust saved more than GH¢346 million in its resolve to improve the sustainability of the Scheme, by withholding the pensions of persons who failed to renew their pensioner certificates.

“Pensioners above age 72 are required to renew their pensioner certificates annually to continue receiving their pensions,” he said.

“Failure to do so results in the deactivation of their accounts until they comply”, he explained.

Dr Ofori-Tenkorang described the Scheme as “generous” and stated for instance that “a member on pension for 22 years as of 2022, has had an overall pension increment of 3,864 per cent.

“A member on pension for seven years as of 2022, has had an overall pension increment of 132.21 per cent”, he added.

Dr Ofori-Tenkorang told the participants, the Trust has introduced an electronic payment system to allow employers and self-employed workers to pay their SSNIT contributions with ease.

He noted that the innovation formed part of new measures to enhance service delivery to members and clients of the Trust.

“The adoption of the electronic-payment platform is expected to bring relief and convenience to employers and those who hitherto, had to travel to an SSNIT Branch or an SSNIT partner bank to pay their contributions”, he noted.

He added that payment of contributions via the platform, SSNIT pay, is E-Levy exempted. He then encouraged employers and self-employed workers to use the Mobile Money channels to pay their contributions.