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Story by Nsor Paul Mensah
The Director-General of the Social Security and National Insurance Trust (SSNIT), Kwesi Afreh Biney, has underscored the importance of collaboration between employers, employees, and SSNIT to ensure the sustainability of the trust. Speaking at a forum, Biney highlighted the critical role employers play in the affairs of the trust and the need to build a strong relationship between all stakeholders.
SSNIT provides income security for Ghanaian workers, with a mission to provide confidence and security in old age. The trust pays pensions to over 257,000 beneficiaries, made possible by employers’ contributions. However, questions have been raised about the adequacy of SSNIT payments, with some beneficiaries expressing dissatisfaction.
The structure of employee compensation can impact pension calculations. When a significant portion of income comes from allowances rather than basic pay, it can affect the amount of pension received. Biney urged employers and employees to work together to build a scheme that provides a good pension for workers.
To achieve this, SSNIT is embarking on digital transformation to modernize its operations and make it more efficient and convenient for stakeholders. The goal is to provide a seamless and efficient experience for employers and employees, leveraging technology to streamline processes and reduce inconvenience.
Collaboration is crucial*: Between employers, employees, and SSNIT for the sustainability of the trust.
Timely remittance of contributions*: Employers’ timely remittance of contributions is essential for SSNIT’s ability to pay benefits to pensioners.
Digital transformation*: Necessary to modernize SSNIT’s operations and improve efficiency.
By working together, employers, employees, and SSNIT can build a strong and sustainable trust that benefits all stakeholders. The trust’s digital transformation initiative is expected to enhance the overall experience for stakeholders, ensuring a more efficient and convenient service.
The SSNIT boss reaffirmed the trust’s commitment to providing income security for Ghanaian workers. By collaborating with employers and employees, SSNIT aims to build a scheme that provides a good pension for workers, ensuring confidence and security in old age.