Trust Hospital, Labadi Beach Hotel present 2017 dividends to SSNIT

Business News of Monday, 26 November 2018

Source: www.ghanaweb.com

2018-11-26

Dr. John Ofori-Tenkorang, Director General, SSNIT

Two subsidiaries of the Social Security and National Insurance Trust (SSNIT), Trust Hospital Limited and Labadi Beach Hospital have presented dividends for 2017 to the Management of the trust.

The Trust hospital presented dividends of an amount of GHC 579,979.00 for the first since it was incorporated in 2010.

Labadi Beach Hotel also presented an amount of GHC 1,000,000.00 dividends for 2017.

Receiving the dividend, Director General of SSNIT, Dr. John Ofori-Tenkorang commended the subsidiaries for their contributions and also urged them to aim at attaining a larger dividend payout.

“…I’m happy with this as a start, but we should be aiming to have a larger percentage dividend payout going forward”

He commended the board for putting in measures and policies to ensure high yielding investment portfolios. Generally, The Trust’s investment portfolio registered a 5.77 per cent real return in 2017 as against -5.93 percent in 2016. This performance was above the external actuarial target of 3.25 per cent.

The Social Security and National Insurance Trust (SSNIT) is a statutory Public Trust charged under the National Pensions Act 2008, Act 766 with the administration of Ghana’s Basic National Social Security Scheme. As the operator of the first tier of the three-tier pension scheme, it replaces part of the lost income workers in Ghana due to old age, invalidity or death of a member where lump sum payment is made to dependants.

The presentation took place at the pension house here in Accra.

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