Contributors Lament On policy Review

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Social Security and National Insurance Trust (SSNIT) is likely to face workers agitation, if it fails to review existing policies on pensions and its computations.

Contributors to the Trust gave the caution at the Volta Regional Coordinating Council’s Heads of Departments meeting in Ho, where SSNIT gave an overview of pensions.

The contributors, mainly heads of decentralised Departments and Agencies said for instance, the use of basic salary to compute pensions, when allowances and other benefits, which shore up pay were excluded from the calculations disadvantaged workers and therefore called for a review.

They demanded a review of the base salary concept and all other policies that would disadvantage contributors to the scheme.

Mr Edward Samlafo, Volta Regional Director, Controller and Accountant General’s Department said SSNIT could sponsor a private member’s bill in Parliament to clear all ambiguities or grey areas in its legal operational framework to favour contributors.

Mr Franklin Newlove Alorvor, Ho-Branch Manager, SSNIT, announced that the Director General of SSNIT, Dr John Tenkorang would pay a working visit to the region, next Tuesday, and invited the Heads to make a physical appearance to table their concerns, which were major policy issues.

He said reasons to join the scheme included; assurance of income replacement, guaranteed minimum and annual increment pensions, reduced old-age poverty, benefit pre-determined by law and free healthcare under the National Health Insurance Scheme.

Mr Alorvor said retirement must be approached with preparedness, warning that failure meant retirement may be associated with loneliness, sickness and poverty.

He said SSNIT continued to invest contributions into real estate, services, manufacturing, energy, education and financial ventures, which entailed banks, non-bank financial institutions and insurance.

Mr Alorvor said benefits of the scheme included; old-age pension, invalidity, survivors and emigration lump sums.

Dr Archibald Yao Letsa, Minister, Volta region, said pension issues were crucial to the survival of workers and senior citizens, who had contributed to nation-building.

Source: Ghanaweb