A Group of Government workers made up with four of the public sector schemes operational in Ghana have accused the Social Security and National Insurance Trust (SSNIT) of sabotaging the smooth implementation of past credits as directed by The Regulator.
The schemes include Ghana Education Service Occupational Pension Scheme, Health Sector Occupational Pension Scheme, Hedge Master Trust Occupational Pension Scheme for members of Civil Servants Association and Judicial Service Occupational Pension Scheme for Staff of Judicial Service known as Forum, said, the posture of SSNIT as a tactical move to sabotage the smooth implementation of the three-tier pension scheme which is scheduled to be fully operational effect from January 1, 2020.
At the news conference held in Accra, The FORUM Chairman, Isaac Bampoe Addo stated that:, they are “reliably informed that SSNIT is not going to comply with the directives from NPRA on past credits.
“As you are aware, January 1, 2020 is the implementation date for Tier 2 Pensions which is just around the comer and we would not want our members who will be retiring from that date to be paid past credits that do not reflect the basis for its payment as outlined by the NPRA in its letter No. NPRA\OPD\COM\19\691 dated 18th September, 2019, copy attached”.
He said, “at a meeting on October 9, 2019, with the Ministry of Employment and Labour Relations, (MELR), the National Pensions Regulatory Authority (NPRA), the Social Security and National Insurance Trust (SSNIT) and FORUM on the above subject, it was agreed that by October 29, 2019, SSNIT would come out with the modalities for the calculation and the issuance of statements for each contributor on Past Credits earned as at December 31, 2009, based on 100% Treasury Bill Rate compounded quarterly”.
“It is worth noting that, SSNIT was highly instrumental in getting the original implementation date of January 1, 2015 pushed to January 1, 2020, which resulted in the enactment of the National Pensions (Amendment) Act, 2014 (Act 883)”. Mr. Bampoe Addo revealed.
The Forum however, called on the Minister of Employment and Labour Relations as the Minister of Pensions as a matter of urgency to ensure that this matter is resolved amicably by November 18, 2019, to “forestall any industrial unrest”.
Story by Edzorna Francis Mensah
