Dr John Ofori-Tenkorang, the Director-General of Social Security and National Insurance Trust (SSNIT), has disclosed that SSNIT is on course to pay more than the GHC3.3 billion in benefits it paid the previous year in 2021.
Dr John Ofori-Tenkorang made this revelation at a programme dubbed, ‘the Employers Breakfast Meeting’ in Accra on the theme: “Social Security: Employer Compliance and the impact on businesses and employee morale”. A platform which was created to further enhance and improve the services of the Trust. He stated that SSNIT is expected to exceed its 2020 payments in this year due to the amount of money the scheme has already paid this year.
The Director-General noted that, as of the third quarter this year, the Trust had paid 2.7 billion to about 220,000 pensioners on the pension payroll.
Dr Ofori-Tenkorang, however, averred that as at September this year, the confirmed debt of establishments within the private sector amounted to over GHC 230 million. A value he expects to increase.
“This will certainly go up if we retrieve all outstanding contribution reports and update inspections on all establishments”.
Ofori-Tenkorang
The Director-General of SSNIT explained that the benefits pensioners receive after retirement depend on their contributions to the scheme. He thus, entreated all employers to make sure they pay appropriate salaries to their workers at all times.
“When employers under-declare salaries of workers, it is the workers who suffer in the long run. So ensure your workers receive meaningful pensions when they retire by contributing on their right salaries.”
Ofori-Tenkorang
Employers Not Fulfil their Payment Obligations
Dr Ofori-Tenkorang indicated that the inability of employers to honour their financial obligation to SSNIT put pressure on the Trust to fulfil its obligation to pay retirement benefits to workers who earn less.
The Director disclosed that SSNIT will deploy an in-house developed technological platform to enhance the services of the Trust.
The new platform, which he said, is currently being piloted, would be implemented early next year. The new platform, he stated would add the use of Mobile Money and direct bank debit to the available means of paying contributions. He thus, entreated employers to embrace the new and user-friendly platform for processing of Contribution Reports, payment of contributions, and registration of new staff members on the SSNIT scheme.
The Chief Executive Officer of the Ghana Enterprise Agency (GEA), Alex Frimpong, commended SSNIT for the programme, which was meant to discuss the retirement income security of workers. He implored employers to pay the SSNIT contribution of their workers promptly, and should not wait for the Trust to take them to court before doing so.
According to Mr Frimpong, the COVID-19 has impacted negatively on businesses and therefore, pleaded with SSNIT to use a dialogue approach instead of court action to collect the debts owed them by employers.
Morgan Ayawine, the General Secretary of the Industrial and Commercial Workers Union (ICU), on his part, pledged ICU’s commitment to work closely with SSNIT to ensure the retirement income is given for security of workers.
Mr Ayawine beseeched workers to take the issues of pensions seriously, since they would not work in perpetuity, and would retire one day and would need pension to make ends meet.
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