• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, February 1, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Over GH¢500 million Paid to Pensioners in 2 Months- Director-General

March 17, 2022
Stephen M.CbyStephen M.C
in Pension
0
Ghana Card to Revolutionize Pension Sector and Improve Pensions Penetration- SSNIT

Dr. John Ofori Tenkorang, Director-General of SSNIT

Dr. Ofori-Tenkorang, the Director-General of the Social Security and National Insurance Trust (SSNIT), has revealed that the Trust in the first two months of this year, 2022 has paid more than GH¢500 million to pensioners.

The Director-General of SSNIT made this known at an educational initiative launch in Kumasi. He stated that the monies paid to these pensioners was to ensure that they live a relatively decent livelihoods from their SSNIT contributions. He added that the payment was part of the intergenerational support the current working population provides through their contributions.

“The Social Security and National Insurance Trust (SSNIT) paid GH¢546.47million to pensioners under the Trust for the first two months of the year. The Trust in January 2022 paid GH¢272.84million to 225,931 pensioners and GH¢273.63million to 226,791 retirees in February 2022.”

Dr. Ofori-Tenkorang

With an active membership of 1.7 million, the highest pension earner currently receives GH¢142,564 per month, while the lowest-earning pensioner gets GH¢300. However, Dr. Ofori-Tenkorang acknowledged that despite all these inherent benefits, there are still myths and wrong perceptions about the scheme. This, he said, stems from a general lack of understanding about social security, the laws governing it and the value it adds to lives.

RelatedPosts

Teacher Unions Threaten Government, Plans to Boycott Pension Scheme By March

Pension Payment Increment: Gov’t Surprised Us, We Were Expecting Less than 10%- Gen Secretary of NPA

Government to Continue Debt Exchange Talks With Pension Funds Despite Resistance

SSNIT to Intensify Public Education on Pension Trust

It is against this background that Dr. Ofori-Tenkorang said “SSNIT is keen on strengthening public education on the SSNIT pension scheme, and has therefore introduced ‘Supplementary Readers on Social Security’ for senior high school students.”

According to Dr. Ofori-Tenkorang, the move will offer students a roadmap and a preview into their work journey, and equip them with the right tools to plan.

“Perhaps if we all had the benefit of being introduced to the subject matter of social protection right from the onset, then there would be more than 1.7 million workers covered out of a potential working population of 11 million or so.”

Dr. Ofori-Tenkorang

Dr. Ofori-Tenkorang hinted that SSNIT will embark on a campaign to enroll self-employed persons onto the Scheme. “This is because we firmly believe that every worker in Ghana should be protected and have access to the great benefits.”

SSNIT to Introduce Supplementary Readers on Social Security in Schools

The Supplementary Readers on Social Security’s introduction is being done in partnership with the Ghana Education Service (GES), with support from the National Council for Curriculum Assessment (NaCCA) and Ministry of Education.

The Minister of Education, Yaw Osei Adutwum, observed that SSNIT has since its establishment, played an important role in educating the youth. “This has been through the provision of schools, hostels and funding for tertiary education through the Students Loan Scheme. We must appreciate the efforts made by SSNIT and the support it has provided to various sectors of the economy; but most importantly, the provision of regular monthly pension to the about 227,000 pensioners”.

However, the minister bemoaned the low SSNIT enrolment despite the important role social security plays. “Unfortunately, many workers in this country do not understand the importance of having a functional pension system and the impact it has on lives, especially in old age and with incapacitation.”

Dr Yaw Osei Adutwum indicated that this lack of understanding has resulted in the low membership number and many cases of non-compliance seen at the courts. Given this, the minister said, “having social security content included in various subject areas of the senior high school curriculum will help solve this lack of understanding and appreciation of the first-tier scheme.”

READ ALSO: IIGh To Launch A Report And Dialogue On The State Of Impact Investing In Ghana

Tags: PensionerSSNIT

Related Posts

Teacher Unions Threaten Government, Plans to Boycott Pension Scheme By March
Pension

Teacher Unions Threaten Government, Plans to Boycott Pension Scheme By March

January 26, 2023
Pension Payment Increment: Gov’t Surprised Us, We Were Expecting Less than 10%- Gen Secretary of NPA
Pension

Pension Payment Increment: Gov’t Surprised Us, We Were Expecting Less than 10%- Gen Secretary of NPA

January 15, 2023
Government to Continue Debt Exchange Talks With Pension Funds Despite Resistance
One Top Story

Government to Continue Debt Exchange Talks With Pension Funds Despite Resistance

January 12, 2023
SSNIT Increases Maximum and Minimum Insurable Earnings For 2023
Finance

SSNIT Increases Maximum and Minimum Insurable Earnings For 2023

January 12, 2023
TUC Assures that Workers Pension Will Be Protected Against Debt Exchange program
Pension

TUC Assures that Workers Pension Will Be Protected Against Debt Exchange program

December 6, 2022
Ghana Did Not Learn the Most Critical Lessons from its Pension Reforms- Donkor-Hyiaman
Pension

Ghana Did Not Learn the Most Critical Lessons from its Pension Reforms- Donkor-Hyiaman

November 21, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Atlantic Lithium Commences Drilling at Ewoyaa Project for 2022

Next Post

Mali’s Ruling Junta Orders Suspension of FRANCE 24 & RFI

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Afia Schwarzenegger Can’t Be Quiet For Two Years – Nana Tornado Mocks
Entertainment

Afia Schwarzenegger Can’t Be Quiet For Two Years – Nana Tornado Mocks

by Esther Korantemaa OffeiFebruary 1, 2023
Civil Society Organisations Urged To Intensify Nationwide Community Awareness On HIV And AIDS.
General News

Civil Society Organisations Urged To Intensify Nationwide Community Awareness On HIV And AIDS.

by Emmanuel SarpongFebruary 1, 2023
You Don’t Want to Contribute to Ghana’s Growth- Finance Minister Fires State Entities
Vaultz Business

SIGA Projects 25% Contribution to GDP by SOEs in 2023

by Stephen M.CFebruary 1, 2023
Banks Collaborative Effort With Fintech Will Bring Optimism In The Financial Sector- GhIPSS, GAB
Finance

Banks Collaborative Effort With Fintech Will Bring Optimism In The Financial Sector- GhIPSS, GAB

by Gifty BansahFebruary 1, 2023
Chiefs Of Nkusum Traditional Area Revoke Title Given To Davis Iyalla As Amankorahen Of Yamoransa
General News

Chiefs Of Nkusum Traditional Area Revoke Title Given To Davis Iyalla As Amankorahen Of Yamoransa

by Emmanuel SarpongFebruary 1, 2023
Myanmar’s Military Is Increasing Airstrikes – Rights Group
Asia

Myanmar’s Military Is Increasing Airstrikes – Rights Group

by Comfort AmpomaaFebruary 1, 2023
Afia Schwarzenegger Can’t Be Quiet For Two Years – Nana Tornado Mocks
Civil Society Organisations Urged To Intensify Nationwide Community Awareness On HIV And AIDS.
You Don’t Want to Contribute to Ghana’s Growth- Finance Minister Fires State Entities
Banks Collaborative Effort With Fintech Will Bring Optimism In The Financial Sector- GhIPSS, GAB
Chiefs Of Nkusum Traditional Area Revoke Title Given To Davis Iyalla As Amankorahen Of Yamoransa
Myanmar’s Military Is Increasing Airstrikes – Rights Group
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In