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Pensioners’ SSNIT Contribution Could Be Used As Collateral To Acquire A Mortgage – John Dramani Mahama

thevaultzby thevaultz
September 16, 2020
Reading Time: 2 mins read
John Dramani Mahama,
NDC Flag bearer

John Dramani Mahama, NDC Flag bearer

Still on lecturing the public on the ‘People’s Manifesto’, The National Democratic Congress (NDC) led by flag bearer John Dramani Mahama, has stated that he is geared towards assisting pensioners, especially lessees to own apartments of their own through mortgage. 

Speaking at a town hall meeting held at the Great Hall of the Kwame Nkrumah University of Science and Technology, he iterated that amendments on Social Security and National Insurance Trust (SSNIT) laws, would be made to suit pensioners who have worked for 20 years.

“What is most captivating is, when you are a SSNIT contributor and have worked for 20 years, and you do not have a house of your own; you are renting an apartment, and almost a pensioner, what we are saying is that, the pensioners’ SSNIT contribution could be used as collateral so you can acquire a mortgage for any house you occupy. That means, your SSNIT contribution will serve as a mortgage so you can have an abode to place your head.”

The Former President of Ghana stated that, an additional package would be given to all pensioners during Christmas celebrations.

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“What we are saying is that, if you are a pensioner, every year is made up of 12 months. On the twelfth month when we celebrate Christmas, we are going to double the amount of pension you receive during that month.”

Touching on employees who were laid off due to the inception of the coronavirus pandemic, Mr. Mahama stated that, a primary responsibility of the Trust, will be to replace some amount of income of workers, due to national emergencies when giving another chance to be president in the December 7 polls.

“During the inception of COVID, a lot of employees were either laid off or asked to stay at home, which meant they would not be paid salaries; especially teachers in private schools. Yet, every month, an amount of money is deducted from their salaries and deposited into the SSNIT contributor’s fund; so that they can be paid when they go on pension. But this is an unexpected situation that wasn’t prepared for, yet it is with us (COVID) and people are at home and their contributions are in SSNIT. So, I have stated that, the law should be amended so that, if such an occurrence presents itself again, SSNIT would be able to give them a little out of their pension salary till work begins.

“We have captured in our manifesto that, in times of national emergencies or crisis; that will affect the pockets of Ghanaians, causing them the inability to cater for their wives and children, a percentage will be deducted from the contribution that has been deposited in SSNIT, until things normalize and work is commenced again.”

Tags: PernsionerSocial Security and National Insurance TrustTown Hall
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