Dr. John Ofori Tenkorang
The Social Security and National Insurance Trust (SSNIT) has assured contributors of protecting their investments.
According to the Director General, Dr. John Ofori Tenkorang, though the scheme has recorded some negative returns on investment portfolios in the past, the Trust is committed to restructuring all non-performing investments to yield the needed benefits.
Speaking at the 2022 SSNIT Employers’ Breakfast Meeting, Dr. John Tenkorang explained that a lot of the non-performing investments are legacy assets that may have decreased in value over a long period of time.
“I want to assure members and clients that we are very much engaged in managing our investment portfolio. You know investment goes in cycles, some may do well and others may not do well. So we have an investment team that is fully engaged in making sure that all investments are restructured to yield the needed benefits”.
“A lot of the investments which appear not to be doing well are all legacy projects which were done long ago. They are not investments we recently did”, he stressed.
“So we are restructuring all old investments. Those that we feel that we are not suited to be a majority shareholder and we need to invite people who are business minded to come and partner with us, we are doing same”, he added.
On the importance of engaging stakeholders, Dr. Ofori Tenkorang said such engagements deepen the understanding and explore ways to improve the operations of the scheme.
“Stakeholder engagements like this is very important because when the various stakeholders understand what we do and the value that it brings to them, then issues like compliance become easy”.
The SSNIT Employers’ Breakfast Meeting was organised under the theme: “Sustainability of the SSNIT Scheme: the role of Employers”. The forum provided a platform to discuss challenges facing employers concerning the SSNIT Scheme and how they can be resolved.
A second meeting is expected to be held in Takoradi later this month.