Published on 26 March, 2021.
The General Secretary of the Trades Union Congress (TUC), has praised the Director-General of Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang and the immediate past Board Chairman, Dr. Kwame Addo-Kufuor, for working tirelessly to ensure a transparent and accountable public institution.
Dr. Anthony Yaw Baah, explained that their efforts have improved the operations of the Trust over the years.
He said this when addressing the 11th quadrennial delegates congress held at Ejisu in the Ashanti Region last Wednesday.
The occasion which also coincided with the 75th anniversary of the founding of the TUC, saw a list of notable dignitaries in attendance.
Key among them, were President Akufo-Addo, Minister of Employment and Labour Relations, Ignatius Baffour Awuah, SSNIT Director-General, Dr. Ofori-Tenkorang, among others.
“Since 2017, SSNIT has improved its operational efficiency tremendously under the leadership of Dr. Addo-Kufuor and Dr. Ofori-Tenkorang. The number of employers paying contributions to SSNIT, increased by 20percent from 54,000 to 65,000”.
“Active contributors to SSNIT grew by28 percent from 1.27 million to 1.63 million. The net assets of SSNIT increased by 13% from Gh¢8.4 billion to Gh¢9.52 billion; administrative cost as a percentage of total expenditure decreased from 9.4% in 2017 to 6.6% in 2020”.
“More importantly, retirees now receive their first pension within two weeks of submitting their pension application compared to 47 days or even a longer period which was used to process pension application”, he said.
He also touched on concerted efforts by his team and SSNIT to ensure an informed workforce aimed at improving pensions paid to workers.
Dr. Yaw Baah, lamented about the low social security coverage in the country and how the salaries of workers eventually result in low pensions. He was however optimistic that SSNIT and the team set up by the government to address the shortfall in a lump sum of retirees under Act 766 will work assiduously to get all issues resolved.
“We are confident they will do a good job and provide the basis for the computation of the top-up”, he added.
The TUC boss also praised Dr. Ofori-Tenkorang and his team for partnering Organised Labour to educate its members across the country.
As at March 2021, about 34,222 pensioners, have been paid about GH¢260 million in Past Credit whiles the total Past Credit paid to 16,058 survivors amounted to about GH¢22 million.
SSNIT has already assured all its Contributors and Pensioners that the Trust will at all times pay their benefits accurately and promptly as has always been done.