{"id":176594,"date":"2024-04-29T15:56:57","date_gmt":"2024-04-29T15:56:57","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/04\/29\/dont-panic-your-contributions-are-safe\/"},"modified":"2024-04-29T15:56:57","modified_gmt":"2024-04-29T15:56:57","slug":"dont-panic-your-contributions-are-safe","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/04\/29\/dont-panic-your-contributions-are-safe\/","title":{"rendered":"Don’t panic, your contributions are safe"},"content":{"rendered":"

<\/p>\n

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The Social Security and National Insurance Trust (SSNIT) has dismissed claims suggesting that the Scheme may face challenges in meeting its financial obligations to beneficiaries in the future, as highlighted in the 2020 International Labour Organization Actuary Report.<\/p>\n

Acknowledging the speculative nature of the report\u2019s findings, the Scheme firmly stated that these projections do not align with the current realities on the ground.<\/p>\n

Addressing journalists in Accra on Monday, Joseph Poku, Chief Actuary of SSNIT, reassured contributors that the scheme remains robust and well-positioned to cater to their needs.<\/p>\n

\u201cYou cannot lift everything in there and say SSNIT is collapsing in the next 12 years; it is far from the truth. These are the processes\u2026You take a period of 75 years and then, based on reasonable assumptions, you make projections. But remember, if you alter the assumptions, the results will differ. So, don\u2019t take the report at face value; consider it alongside the underlying assumptions,\u201d he further stated.<\/p>\n

Mr Poku also clarified that despite occasional delays in government contributions, the government has fulfilled its commitments up to January 2024. Ongoing engagements continue to ensure sustained support.<\/p>\n

\u201cMonthly contributions have been paid up to January 2024,\u201d he said, adding \u201cWhile we recognize that March payments should have been made by now, it\u2019s important to note that the government has fully covered January\u2019s contributions, and part of February\u2019s as well. Any delays are minimal, considering the overall timeline,\u201d he said.<\/p>\n\n

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The Social Security and National Insurance Trust (SSNIT) has dismissed claims suggesting that the Scheme may face challenges in meeting its financial obligations to beneficiaries in the future, as highlighted in the 2020 International Labour Organization Actuary Report. 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