Stop plunging your hands into our contributions – Retired at SSNIT

General News on Friday, May 3, 2019

Source: clbadfmonline.com

2019-05-03

The Public Relations Officer of the University of Ghana Retirement Association, Mr. James Madakena, called on the government and officials of the Social Security and Social Security Fund (SSNIT) to stop using bad the pension funds.

Ghanaian pensioners have complained over the years of the little money they receive from SSNIT after decades of service in the country.

Addressing the celebrations of May 1, 2019, Wednesday, May 1, 2019 on Black Star Square, President Nana Addo Akufo-Addo Dankwa instructed the Minister of Employment and Labor Relations to get in touch with the Social Security and National Insurance Fund (SSNIT) and National Pensions The Regulatory Authority (ANRP) will finalize all outstanding pension issues over the next three months.

Mr. Akufo-Addo emphasized that the essential contribution of work to the process of production, economic growth and sustainable development requires that the dignity of work be maintained throughout retirement.

"We will build a strong economy and a prosperous society when we put in place a sustainable pension plan for all workers. For far too many people, the end of their lives is marked by poverty. Too many people have no pension at all or do not have enough pension to meet the needs of old age, "said the President.

In the informal sectors of the economy, Nana Akufo-Addo lamented that "most people work without worrying about pension coverage and that when they no longer have the strength to work, their life becomes miserable.

With about 90% of workers working in the informal sector, the president said attention should be focused on extending access to this sector in line with the National Pensions Act.

"At the moment, the government's efforts to set up a cocoa farmers' pension plan are underway. This trend would be extended to other groups of workers in the informal economy, "he added.

The government, said Nana Akufo-Addo, is working to reduce unemployment in the country in order to broaden the pension base.

As part of the president's comment, Mr. Madakena told Benjamin Akakpo on Thursday, May 2, 2019, during the Executive Breakfast Show (EBS) on Clbad91.3FM: "Several factors have contributed to the decline in compensation of retirees in the SSNIT. Recently, we were told how some people used a lot of money to buy the wrong equipment for SSNIT and had exhausted our funds.

"Years ago, Delloitte & Touche conducted an audit. The government of the time did not punish the guilty so far for the misappropriation of funds used.

"The SSNIT uses retirees' money for their social responsibility by building houses for the police. Meanwhile, the police do not contribute to the SSNIT, it is at heading 30. When the army and the police retire, they earn more than the pensioners of the SSNIT …

"Years ago, it was the contributions of the SSNIT that had been used to launch the National Health Insurance Plan and we do not know for the moment whether this huge amount has been repaid. I therefore ask the SSNIT and the government to stop interfering in the contributions of the poor pensioners.

"Ghanaian pensioners from SSNIT all over the country are suffering. Although the SSNIT has invested SSNIT funds in various businesses and infrastructure to help retirees live well, SSNIT pensioners do not feel it at all … "