{"id":745927,"date":"2022-01-12T09:07:26","date_gmt":"2022-01-12T09:07:26","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/01\/12\/increasing-pension-age-to-65-years-ssnit-appeals\/"},"modified":"2022-01-12T09:07:26","modified_gmt":"2022-01-12T09:07:26","slug":"increasing-pension-age-to-65-years-ssnit-appeals","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/01\/12\/increasing-pension-age-to-65-years-ssnit-appeals\/","title":{"rendered":"Increasing pension age to 65 years: SSNIT appeals"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"522\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/01\/WhatsApp-Image-2020-11-18-at-16.17.07-4-696x522.jpeg\"   alt=\"\" title=\"SSNIT boss\"\/><figcaption class=\"wp-caption-text\">Director-General of the Social Security and National Insurance Trust (SSNIT), Dr John Ofori-Tenkorang<\/figcaption><\/figure>\n<\/div>\n<p>The Social Security and National Insurance Trust (SSNIT) wants broader consultations with government and labour unions over a possible increase of retirement age, from 60 to 65 years.<\/p>\n<p>With huge liabilities on the balance sheet of the Trust, the Director-General of SSNIT, Dr. John Ofori-Tenkorang, believes reviewing the retirement age which is the practice in the USA would not only ease the burden on the Trust, but also increase contributions.<\/p>\n<p>Dr. Ofori-Tenkorang said hit outfit pays pensions of contributions as old as 100 years, and therefore extending the retirement age to 65 years must be critically looked at.<\/p>\n<p>\u201cAfter 75 years, we\u2019ll continue to pay you until the good Lord calls you home. So in theory, SSNIT can be paying till you are 101 years. The liability that SSNIT takes on can increase enormously as long as people are living longer.\u201d<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>He was of the view that advancement in medical technology is increasing the lifespan of people, adding \u201cpeople are becoming health conscious and taking care of themselves and people are living longer\u201d.<\/p>\n<p>\u201cSo the question then becomes, should we let people contribute a little bit more by gradually shifting the retirement age. In other countries, in the US for example, you don\u2019t get social security until you are 65\u201d, the SSNIT boss alluded.<\/p>\n<p>He further stated that \u201cthe question of increasing the retirement age is something that we have to look at. And this is something that you do in the tripartite way where government, employers and labour sit down and discuss\u201d.<\/p>\n<p><strong>SSNIT increases pensioners\u2019 monthly payment by 10%<\/strong><\/p>\n<p>SSNIT in consultation with the National Pensions Regulatory Authority (NPRA) on Tuesday 11<sup>th<\/sup> January, 2022 announced an increased in pensioners monthly payment by 10%. This will take effect from 20<sup>th<\/sup>\u00a0January, 2022.<\/p>\n<p>According to a press release issued by SSNIT, all pensioners \u201cwill have their monthly pension increased by a fixed rate of 9.68% plus a redistributed flat amount of \u00a23.44.\u201d<\/p>\n<p>The highest earning pensioner as of 31<sup>st<\/sup>\u00a0December, 2021 will receive a payment of \u00a2142,564.97 every month.<\/p>\n<p>Pensioners receiving a minimum pension of \u00a2300 as of 31<sup>st<\/sup>\u00a0December, 2021 will have their monthly pensions increased to \u00a2332.48.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"RG-OLRIkarA\"><iframe loading=\"lazy\" title=\"Coach Milovan Rajevac wake up, your team is poor  - Fire for Fire on Adom TV (11-1-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/RG-OLRIkarA?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\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) wants broader consultations with government and labour unions over a possible increase of retirement age, from 60 to 65 years. With huge liabilities on the balance sheet of the Trust, the Director-General of SSNIT, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":745928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-745927","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/745927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=745927"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/745927\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=745927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=745927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=745927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}