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SSNIT contributions – MD shares shocking figures

Director-General of the Social Security and National Insurance Trust (SSNIT), Dr John Ofori-Tenkorang

About 50 percent of contributors of Social Security and National Insurance Trust (SSNIT) pay less than GH₵1,000 a month.

This phenomenon, according to the DirectorGeneral of SSNIT, Dr John Ofori-Tenkorang, is because employers deduct the SSNIT contributions from the basic salaries.

Majority of employees who earn more, he noted, is due to allowances at work but it does not reflect in their monthly contribution.

“Less than one percent of pensioners earn more than GH₵5,000 cedis a month and 50 percent of pensioners earn GH₵1,000 and even low” Dr Ofori-Tenkorang revealed this on Asempa FM’s Ekosii Sen programme Wednesday.

This, he described as worrying since many employees who earn good money become paupers when in retirement.

The solution, the SSNIT boss stressed, is for employees to bargain well for their basic salaries and ensure their employers pay their contributions.

“Labour and employers must start having conversation about their SSNIT contribution for a secured future,” he added.

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Dr Ofori-Tenkorang maintained that Ghanaian workers are better off under SSNIT than any other pension scheme.

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