Half of SSNIT contributors retire on salaries less than GH¢1,000
The Social Security and National Insurance Trust (SSNIT) has disclosed that, about 50 percent of contributors currently contribute on salaries less than GH¢1,100 a month.
This, according to the Director–General of the Trust, Dr
John Ofori-Tenkorang, has contributed to low pension benefits since the
computation is done on basic salaries of workers, excluding allowances.
The Trust noted that about 35 percent of SSNIT contributors
contribute on salaries of GH¢700 or less while 5 percent of contributors pay
contributions on salaries of GH¢5,000 or more. It is 13.5 percent of these
salaries that is paid to SSNIT out of which the Trust remits 2.5 percent to the
National Health Insurance Authority (NHIA), leaving only 11 percent to fund
pension payment when one retires. The pension workers receive on retirement is
simply a reflection of the salaries on which contributions were paid.
“The solution is that employees must bargain well for their
basic salaries and ensure their employers pay their contributions” Dr
Ofori-Tenkorang said, adding that, “Labour and employers must start having
conversations about their SSNIT contribution for a secure future.”
Dr Ofori-Tenkorang maintained that Ghanaian workers are
better off under SSNIT than any other pension scheme.
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