{"id":627681,"date":"2019-05-29T16:36:34","date_gmt":"2019-05-29T16:36:34","guid":{"rendered":"
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\"SSNIT<\/p>\n
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\"SSNIT<\/figure>\n

The Social Security and National Insurance Trust (SSNIT) paid close to GH\u00a2 2.5 billion in pension benefits in 2018.<\/p>\n

In 2019, it has paid GH\u00a2200 million in paying pension benefits to the over 200,000 pensioners per month.<\/p>\n

This is according to the Deputy Director-General of SSNIT in charge of Finance and Administration of SSNIT, Mr Michael Addo who made the disclosure at a forum organised by the Trades Union Congress (TUC) in collaboration with the Social Security and National Insurance Trust (SSNIT) in Sunyani.<\/p>\n

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\u201cA little over One Million Ghana Cedis is spent on Invalidity Pension every month. Some of these invalid pensioners have as little as 12 months\u2019 contributions but will have to be paid for the rest of their lives. SSNIT is committed to paying all legitimate claims and I must state unequivocally, that SSNIT does not cheat workers or pensioners. It is not in the interest of management and staff of SSNIT not to pay the right amount to any pensioner,\u201d he said.<\/p>\n<\/blockquote>\n

The forum which has been held in other parts of the country aims at promoting knowledge of the SSNIT Scheme and empowering organized labour as peer educators for the Trust.<\/p>\n

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Deputy Director-General of SSNIT in charge of Finance and Administration of SSNIT, Mr Michael Addo<\/figcaption><\/figure>\n

These regional meetings, according to the Trust, are also in compliance with the directive by the National Pensions Regulatory Authority (NPRA) for the Trust to intensify public education activities.<\/p>\n

The Deputy Director- General stated that SSNIT relies on investment income to supplement the payments of benefits.<\/p>\n

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\u201cThe strategies adopted to improve investments include rebalancing investment portfolio by increasing investments in Fixed Income, enhancing performance of the commercial property portfolio and improving non-performing loan book through restructuring of underlying investee companies. We also decreased equity exposure by exiting or restructuring non-performing investments, improved performance of investee companies through better corporate governance and roll out of corporate targets and completing and monetizing all ongoing real estate projects including those in Joint Venture companies,\u201d he added.<\/p>\n<\/blockquote>\n

Mr Michael Addo also added that there is no mystery surrounding\u00a0the computation of benefits and that pensions are a direct reflection of salaries earned by contributors.<\/p>\n

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\u201cWith the SSNIT Pension Scheme, what you put in is what you get.\u00a0 Let me give you some statistics on this.<\/p>\n