SSNIT wants to revise the contribution rate

SSNIT wants to revise the contribution rate

The Social Security and Social Security Fund (SSNIT) has called for a review of the worker contribution rate to enable it to maintain the pension scheme and pay higher pensions to workers.

Currently, the contribution rate is 11% of base salary, but the SSNIT wants to revise it to 19.2%.

At the Volta Regional Forum in Ho to discuss issues related to pensions and benefit calculations, among others, the Director General of the SSNIT, Dr. John Ofori-Tenkorang, said that it was necessary to discuss the appropriate funding rate the scheme.

The forum was organized by the Trades Union Congress (TUC) in collaboration with the SSNIT.

Participants learned how to badess their pension in a practical way.

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Mr. Ofori-Tenkorang said that the benefits that retirees receive from their contributions show that it is possible that the SSNIT will not be able to meet its obligations in the future, particularly when more and more pensioners are hiring.

"External actuaries come to review our system every three years. In particular, they suggested proposing an appropriate funding rate to maintain the system, "he said.

The moment, he said, had come for the country to put in place a strong and sustainable system that would always be there for future generations.

No cheating

Responding to claims that the pensions of the SSNIT were low, Dr. Tenkorang refuted these claims, saying that there was no myth about the calculation of benefits and that pensions "directly reflected the wages of the workers to whom they were paid. they contribute".

He described the SSNIT as a "generous system," explaining that the least paid pensioner earns more than a least paid worker in action despite meager contributions.

In his opinion, the system put in place did not allow SSNIT workers to steal citizens' pensions and, in a situation where the calculation of benefits was wrong, it could be easily corrected.

"SSNIT does not fool workers. I can not go wrong; SSNIT workers can not go wrong too. If they do not even pay you the right amount, they can not put that money in their pockets because a wrong calculation can easily be corrected, "he told workers' groups and workers. of the forum.

The Director of SSNIT indicated that the SSNIT had engaged in an aggressive public education program aimed at promoting knowledge of the system, among others. He has also deployed the second phase of the info-shop in five universities to give the next generation of workers the right to benefit from this system.

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TUC Deputy Secretary General Joshua Ansah said that pensions are a major concern for Ghanaian workers. This is why they felt it necessary to bring the higher hierarchy of the SSNIT to address the concerns of the workers.

He urged workers to take an active interest in social security and retirement planning.