The Social Security and National Insurance Trust (SSNIT) has announced a substantial saving of GH¢ 519 million by removing ghost pensioners from its payroll.
At a press briefing in Accra, the Director General of SSNIT, Mr Kofi Osafo-Maafo, discussed the scheme’s investments and operations, highlighting SSNIT’s unique retirement benefits that surpass those offered by any other pension scheme in the country.
Mr Osafo-Maafo noted that members have experienced significant pension increases over the years.
For example, a pensioner who has been on the scheme for 22 years as of 2022 has received a total pension increase of 3,684 percent; a pensioner of 17 years has seen an increase of 1,026 percent; and a pensioner of 7 years has enjoyed a 132.21 percent rise. The scheme also continues to support members deemed “unfit to work.”
Despite reports suggesting that the scheme is running out of funds, Mr Osafo-Maafo reassured stakeholders of its continued viability. He cited an International Labour Organization (ILO) report, asserting that such projections are insufficient to deem the scheme insolvent.
He stressed that SSNIT is taking significant measures to ensure its sustained success and aims not just to survive but to thrive.
Furthermore, Mr. Osafo-Maafo stated that SSNIT would continue to enhance its operations, expand coverage, and tackle debts owed by public and private sector employers.
Source: GNA
