B&FT wins SSNIT awards

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• Stephen 11 years ago

  The SSNIT D-G is either being economical with the truth for obvious reasons or does not understand the new pensions arrangement.
  
  While it is true that the contribution rate has been reduced from 17.5% to 13.5%, it is also ...
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  The SSNIT D-G is either being economical with the truth for obvious reasons or does not understand the new pensions arrangement.
  
  While it is true that the contribution rate has been reduced from 17.5% to 13.5%, it is also true that the burden on SSNIT has correspondingly been reduced.
  
  With the 17.5% contribution rate, SSNIT was required to pay a lump sum benefit and monthly pension to a retiree.Now with 13.5% contribution rate, SSNIT is no longer required to pay the lump sum benefit. SSNIT is only required to pay monthly pension to retirees.
  
  The D-G and his cohorts must understand that the new scheme has come to stay and no amount of propaganda can change it.
  
  Could this the reason why the NPRA under Sam Pee Yalley is dillydallying with the implementation of the new pension scheme to make it unpopular with Ghanaians?
  
  There's so much intellectual and creative laziness in the system now. There are many companies out there who are not paying the SSNIT contributions on behalf of their workers in gross defiance of the law. I suggest that Dr. Odoom and his team must think of some innovative ways of roping all these into the social security system.
  
  A word to the wise is enough.

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