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SSNIT Pays GH¢ 234.66 Million to Pensioners in September

M.Cby M.C
October 8, 2021
Reading Time: 3 mins read
M.Cby M.C
in Finance, Insurance
0
SSNIT Pays GH¢ 246.59 Million to Pensioners in October 2021

Mr. John Ofori-Tenkorang - Director-General, SSNIT

Pension benefits amounting to the tune of GH¢234.66 million has been paid by the Social Security and National Insurance Trust (SSNIT) to some eligible 211,369 SSNIT pensioners as at September 2021, data from SSNIT showed.

These pension payments represent a 6.03 per cent decline on GH¢248.80 million paid out to some 232,960 eligible pensioners by the Trust in August 2021.

By mid-year 2021, the Trust had paid benefits amounting to about GH¢1.8 billion to eligible SSNIT pensioners.

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These pension payments represent an 8.43 per cent increase on GH¢1.66 billion paid out as benefits in the same period last year to eligible pensioners.

By observing the total number of beneficiaries on the SSNIT pension payments scheme it is noticeable that the eligible beneficiaries have reduced from 232,960 to 211,369.

pension 1
Pension age fast approaching

Recently, the Trust announced that it has successfully deleted names of some pensioners aged 72 years and above.

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These pensioners were found, according to the Trust, to have failed in their own interest to renew their pensioner certificates as of August 31, 2021.

The pensioner certificates are issued to pensioners who are 72 years old and are retired. This certificate is issued under the 1991 (PNDC law 247).

However, for pensioners aged 75 years, their annual pensioner certificate renewal is done under Act 766, SSNIT disclosed.

According to the Trust, this evacuation action saved it some GH¢16.24 million in pension payments in September 2021.

This is not the first time the Trust has taken such as an action to delete some pensioners accounts. Earlier this year, SNNIT disclosed that it had since 2018, saved about GH¢144 million from deactivating accounts of some pensioners.

SSNIT further revealed that its pensioners account deactivating expedition was however brought to a standstill in March 2020 due to the advent of the novel coronavirus.

pension.... 1
Plan for your retirement

Honour SSNIT obligations

In a speech delivered on behalf of Mr. John Ofori-Tenkorang, Director-General of SSNIT, by his Deputy, Mr. Michael Addo at the 2021 edition of the Annual Business Forum for Forty Under 40, he admonished all employers to honour their SSNIT obligations.

“It is our [SSNIT] desire that no employer defaults in the discharge of their social security obligations.

“When you violate any of these provisions, the Trust is compelled to take legal action against you because as I said, the law places an obligation on us [SSNIT] to pay benefits to workers or their dependents.”

Mr. John Ofori-Tenkorang

He also stated that while SSNIT does not take delight in taking legal actions against employees for non-compliance, it is obliged and committed to enforcing the laws.

According to Mr. Ofori-Tenkorang, his outfit has taken legal action against 13,278 employers for various offences including failure to register their establishments and workers and failure to submit contributions.

In the meantime, the Director-General of SSNIT, has assured the general public that it will continue to explore witty innovative digital ways to enhance payments of pensions contributions.

“We [SSNIT] will continue to engage you as partners of the Scheme with the aim of serving you better. We value your comments, thus our doors remain open. The feedback you give is vital in shaping our operations and service delivery.”

Mr. John Ofori-Tenkorang

READ ALSO: Allocation to District Assembly Common Fund Withheld- PIAC

Tags: Mr. John Ofori-Tenkorangpension contributionspension schemeRetirementSocial Security and National Insurance Trust
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