{"id":609864,"date":"2019-04-24T23:01:58","date_gmt":"2019-04-24T23:01:58","guid":{"rendered":"<br><div>\n<figure class=\"fff post-thumbnail\" itemprop=\"associatedMedia\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><img class=\"post_layout_5_img\" src=\"https:\/\/cdn.ghana-mma.com\/2019\/04\/ssnit-director-general-ofori-tenkorang-2.jpg\" alt=\"SSNIT no"},"modified":"2019-04-24T23:01:58","modified_gmt":"2019-04-24T23:01:58","slug":"ssnit-not-cheating-pensioners-director-general-reiterates","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/04\/24\/ssnit-not-cheating-pensioners-director-general-reiterates\/","title":{"rendered":"SSNIT not cheating pensioners &#8211; Director-General reiterates"},"content":{"rendered":"<p><\/p>\n<div>\n<figure class=\"fff post-thumbnail\" itemprop=\"associatedMedia\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><img decoding=\"async\" class=\"post_layout_5_img\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/ssnit-director-general-ofori-tenkorang-2.jpg\" alt=\"SSNIT not cheating pensioners \u2013 Director-General reiterates\"\/><span class=\"featured-image-caption\"><br \/>\nDirector-General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang <\/span><br \/>\n<\/figure>\n<div class=\"mom-ads-wrap  \">\n<div class=\"mom-ads ads-layout-rotator ads-rotator-id-785\" style=\"width:728px; height:90px;\">\n<div class=\"mom-ads-inner\">\n<div class=\"mom-ad\" data-id=\"1236\" style=\"width:728px; height:90px; \">\n<img loading=\"lazy\" decoding=\"async\" class=\"appear\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/Say-yes-to-ads-Banner-728-X-90.jpg\" alt=\"Right Below Featured Image\" width=\"728\" height=\"90\"\/>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The Social Security and National Insurance Trust (SSNIT) says there is a need to review laws on the country\u2019s pension scheme.<\/p>\n<p>Director-General of the Trust, Dr. John Ofori Tenkorang noted that there should be considerations to pay beneficiaries based on the average of their total active years instead of the average of their best three years.<\/p>\n<p>He made this point during a presentation at the Pre-May Day Forum held on Wednesday under the theme: Sustainable Pensions: The Role of Social Partners.<\/p>\n<blockquote>\n<p>He said \u201cSSNIT is committed to paying all legitimate claims that come before it. I must state unequivocally that SSNIT is not cheating pensioners. It is not in my interest or any SSNIT employee not to pay the legitimate claim to any pensioners.\u201d<\/p>\n<p>\u201cAnd we must also have some conversation on whether it is appropriate to just pay dividends based on only best three years of contributions. In other jurisdictions like the UK, the lifetime average is what is used,\u201d he added.<\/p>\n<\/blockquote>\n<p>The Trust also rubbished claims that private investments are more advantageous than paying SSNIT contributions.<\/p>\n<p>Citing several policies to buttress his claim, including the Invalidity Policy which under certain terms and conditions, obligates SSNIT to pay dividends to an inactive contributor, Dr. Ofori-tenkorang said Ghanaians are simply unaware of such generous policies hence, the erroneous notion.<\/p>\n<p><strong>SSNIT working on legislation to address pension computation concerns<\/strong><\/p>\n<p>SSNIT has denied allegations that it is <strong>shortchanging contributors<\/strong> out of their benefits based on the scheme\u2019s alleged flawed computation system.<\/p>\n<p>A committee of the Trade Unions Congress reported that SSNIT misinterprets what constitutes annual salary, early retirement reduction factor and annuity factor on lump sum which ultimately affects the contributor.<\/p>\n<p>Though SSNIT admits that there may indeed be a fundamental flaw with the legal regime on pensions, \u00a0scheme is not cheating contributors.<\/p>\n<p>The scheme is, however, putting together legislation to clarify alleged ambiguities in its computation regime.<\/p>\n<p>The Ministry of Employment and Labour Relations has also started consultations in a bid to address organised labour\u2019s concerns over SSNIT\u2019s methodology for computing pension funds.<\/p>\n<p>Director-General of SSNIT, Dr. John Ofori Tenkorang admitted that there were gaps in the drafting of the law \u201cwhich lend themselves to various forms of interpretation.\u201d<\/p>\n<p><span class=\"ctx-article-root\"\/>  <\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Director-General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang The Social Security and National Insurance Trust (SSNIT) says there is a need to review laws on the country\u2019s pension scheme. Director-General of the Trust, Dr. John Ofori Tenkorang noted that there should be considerations to pay beneficiaries based on the average [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":609865,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-609864","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SSNIT not cheating pensioners - Director-General reiterates - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/24\/ssnit-not-cheating-pensioners-director-general-reiterates\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SSNIT not cheating pensioners - Director-General reiterates - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Director-General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang The Social Security and National Insurance Trust (SSNIT) says there is a need to review laws on the country\u2019s pension scheme. 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