Published on 15 October, 2022.
Some participants who took part in the Employers Breakfast Meeting held at the Labadi Beach Hotel in Accra praised the Management of the Trust for leveraging technology to improve its business operations and also improving its benefits processing time.
The Finance Manager of Glico Life Insurance Company Limited, Mr Obed Yaw Anderson, said the Trust was able to process and start paying monthly pension to his father on the seventh day after applying.
“I had the notion that pension payment would be effected by the 10th day after submitting the relevant documents to SSNIT but was pleasantly surprised when my dad received his first pension payment on the 7th day,” he testified.
A Senior Associate of PricewaterhouseCoopers Ghana Limited, Mr Stephen Sawyer, testified that he tried the ssnitpay platform, which worked effectively.
Senior Manager of Administration and Human Resource, National Pensions Regulatory Authority (NPRA), Mrs Efua Appiah-Gyimah, commended the management of the Trust for organising regular meetings to brief employers about its operations.
Head, Occupational Safety and Social Protection of the Trades Union Congress (TUC),
Ms Nadia Theresa Abugah, urged employers and employees to agree to consolidate their salaries and allowances during collective agreement negotiations for better pensions.
Mr Anderson had earlier suggested that the Trust build and rent out accommodation to young workers to generate more revenue.
Responding, the Director-General, Dr John Ofori-Tenkorang, pointed out that the Trusts investment in rental accomodation in the past did not yield the desired returns.
He explained that some SSNIT investments do well and others too have challenges.
Dr Ofori-Tenkorang said the Trust is implementing reforms to improve the performance of all its investee companies.
An employer wondered why SSNIT would not consolidate the total earnings of employees before social security deductions are made to enhance their pension.
The General Counsel, Mr Jaezi Orleans-Lindsay, explained that the current definition of salary excludes allowances.
He said the Trust is currently considering the amendment of the law to consolidate both salaries and allowances before social security deductions are made Assistant Manager of Ernest and Young Advisory Services Limited, Mr Senyo Dziekpo, said he encountered difficulties accessing SSNIT Clearance Certificates on the Portal.
The Deputy Director-General, Operations and Benefits, assured that the Trust was willing to provide SSNIT Clearance Certificates to employers who are up to date with their social security payments.
Partner, Tax and Legal Services, Deloitte and Touche, Mr Henry Quartey sought to find out whether a SSNIT contributor who is currently resident and working overseas can continue contributing to the SSNIT Scheme.
Responding, the General Manager, Operations Mr Kingsley Agyei-Manu, explained that a SSNIT contributor who relocates outside the country and starts his own business could contribute as a self-employed.
Mr Orleans-Lindsay further clarified that if the company an employee works for is headquartered in the country while the employee is on transfer to its branch abroad, the company can pay social security on his behalf in Ghana.