[ad_1]
The Social Security and National Insurance Trust (SSNIT) says The Finder reports that workers’ contributions of GH ¢ 2.8 billion are messy are false.
According to the institution, the article dated March 30 did not present the Trust’s responses recorded in the Auditor General’s report to the questions raised.
In a press release dated April 1, SSNIT said that although the audit was carried out on December 31, 2019, the main issues raised predate the current administration, with some dating back to 2009.
Regarding a debt of GH ¢ 773 million owed to SSNIT by the Department of Controller and General Accountant (CAGD), the Department could have settled GH ¢ 665.48 million of the total amount.
“It consists of the payment of 430 million GH ¢ and a marketable bond of 235 million GH ¢ in June 2019. Subsequently, CAGD transferred 2.33 billion GHS to cover part of the debt owed to SSNIT. A payment plan has been put in place and management will continue to engage the CAGD and the Ministry of Finance to ensure compliance, ”parts of the statement explained.
In addition, regarding the payment of the pension to retirees over 72 without renewal of the certificate, the 4-page statement noted that no policy had been flouted and this was clarified after lengthy discussions between SSNIT and the auditor general.
Management further stated that “the trust will continue to pay all retirees as long as they are alive.”
Other issues raised and discussed in the press release include the National Trust Holdings Company (NTHC) loan in 2012 which was converted into stock and preferred stock, the Klagon & Sakumono housing projects being implemented by RSS Limited, Fidan Construction court case awaited. to resume 2021, the properties of the SSNIT being managed by MM. Broll Ghana Limited and dismissed the staff of the Trust.
According to the Auditor General, SSNIT failed to comply with the requirements of Section 91 (1) of the 2016 Public Financial Management Act, resulting in $ 185 million being locked in the draft. Klagon & Sakumono accommodation in the Greater Accra region.
But in a detailed explanation, the Trust revealed that the project had experienced a slowdown as a number of property developers were caught in the unexpected economic downturn during the implementation of the project.
“This has created a glut in the market for housing types built by RSS. The significant change in the scope of the project at the enterprise level resulted in the cost of the project being significantly different from the original estimated cost.
“Under current leadership, an asset-liability matching exercise was carried out following which the SSNIT Board of Directors approved the swap of SSNIT debt owed by RSS with completed housing units. The shareholders accepted this swap at an extraordinary general meeting (EGM) of the company. “
“The Trust has implemented a new investment policy and guidelines document with tighter and more rigorous processes to guide these transactions going forward.”
Highlighting the properties of the institution managed by MM. Broll Ghana Limited since 2016, SSNIT also reported that a revised management agreement between Broll and SSNIT has been drafted and is being strictly adhered to to ensure that legal action is taken against tenants who have withheld payment. rental / maintenance fees for common areas (CAM).
At the same time, SSNIT introduced the distribution of electronic account statements to all SSNIT members as part of measures to reduce the cost of printing statements, improve transparency and strengthen members’ confidence in the system.
“The Trust assures all contributors, retirees and the public that it will manage workers’ social security contributions wisely at all times in order to preserve the ability to continue paying monthly pensions,” the statement concluded.
Source link
