Labor Unions launch February 28th ultimatum to SSNIT to honor credit agreement

Company News of Monday, February 11, 2019

Source: citibusinessnews.com

2019-02-11

Some unions gave until February 28 to the Social Security and Social Security Trust (SSNIT) to honor an agreement between them and the Trust concerning the conditions of calculation and payment of credits to retirees.

The group, which itself calls the Forum on Public Sector Registered Pension Plans, is made up of unions such as the Union of Health Services Workers, the Ghana Medical Association and the Ministry of Health. The Ghana Judicial Service Staff Association believes that the SSNIT has ignored the agreement and uses its own formula for calculating payments.

They think that this has meant that the contributors have been exchanged.

According to the Forum, the calculation method agreed between them, SSNIT, the National Pension Regulatory Authority (NPRA), the Ministry of Finance and the Ministry of Employment and Labor Relations, stated that accrued interest, as well as "Prior Credits for Each Contributor" must be indicated on the SSNIT Member Contribution Statement at the end of each quarter. "

He added that the inability of the SSNIT to guarantee payment of credits in accordance with the agreement had resulted in complaints from the Forum regarding the "very low credit pbaded to our outgoing members due continued use of the SSNIT calculation method by the SSNIT ". past credits »

In a statement dated February 11, the Forum issued the 17-ultimatum to return to the agreed method of calculating previous credits or to face their anger.

"We have had the patience to wait for the implementation of the agreement since October 2017. However, the SSNIT has refused to apply the agreed conditions for the calculation of past credits. It should be noted that under this agreement the level of past appropriations should change every quarter. SSNIT was supposed to apply these terms and conditions to calculate and pay past credits. "

"The FORUM notifies the SSNIT to comply with the terms of payment of the agreed past appropriations by February 28, 2019. Thereafter, the FORUM will inquire about the steps to be taken to ensure that realistic real credits are paid to all. his retirees »

Below you will find the full statement of the Forum for Public Sector Registered Pension Plans.