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Pensions, best guarantee for the future — DG, SSNIT tells informal sector workers

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THE Director-General of the Social Security and National Insurance Trust (SSNIT), Dr John Ofori-Tenkorang, has said the best guarantee for the future of workers is by joining a pension scheme that is viable.

Consequently, he has asked self-employed workers to join the SSNIT pension scheme to enable them to live a better life in the future.

Dr Ofori-Tenkorang gave the advice when he addressed persons working in the informal sector in Koforidua in the Eastern Region as part of a nationwide tour to encourage people who had not joined the Tier One pension scheme to do so.

The forum, which was on the theme; “Sign up for Seed from SSNIT; Eye wo daakye, Fa no personal”, was organised by the SSNIT, in collaboration with the Trades Union Congress (TUC), to sensitise individual business owners such as hairdressers, dressmakers, drivers, beauticians, among others, to the pension scheme.

He said one of the painful moments of life was when one was unable to receive any guaranteed income at old age

.

Dr Tenkorang said that was one of the reasons the scheme was established to ensure that it provided a safety net for those who signed up to the scheme.

Apart from that, he said, the children of contributors also stood to benefit from the scheme after the death of their parents who were on the scheme.

Dr Ofori-Tenkorang said people in the informal sector, who were not registered members with the SSNIT pensions scheme, had nothing to rely on when they became old and unable to effectively work.

 

Citing many examples, he said  people could become miserable or even a liability to their children, if they retired from work without a pension to rely on.

The SSNIT Director-General indicated that since those in the formal sector were benefiting from the scheme, those in the informal sector must also be roped into the scheme to enable them to also enjoy the same benefits.

No limitation 

He said the scheme was not limited to only the formal sector workers but to all Ghanaians who were interested in contributing to the scheme.

Dr Ofori-Tenkorang further said apart from the monthly old age pension, a person was also entitled to validity pension, survival lump sum, emigration lump sum and a free National Health Insurance Scheme (NHIS) membership.

The Deputy Secretary-General of the TUC, Dr Joshua Ansah, for his part, said there was a big advantage awaiting informal sector workers when fully registered with the SSNIT pensions scheme.

He said  that was because the SSNIT pensions scheme was normally increased each year for those in the formal sector and that should also be extended to those in the informal sector when they joined the scheme.

SOURCE BY HAURUNA YUSSIF WUNPINI [GRAPHIC BUISNESS NEWS