Retired doctor calls for reforms in pension

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• Salasi bukari 10 years ago

  I believe if he was working and his full salary could not really be enough for him as is the case of most ghanains, then half of it will still not be enough. What we need to do is to do other investment in adition to ssit rat ...
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  I believe if he was working and his full salary could not really be enough for him as is the case of most ghanains, then half of it will still not be enough. What we need to do is to do other investment in adition to ssit rather putting all our eggs in one basket .
  I don't know of any pension fund that is able to pay contributors full salary to them when they are on pension

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• Shalom 10 years ago

  I think there's a problem somewher bcs the replacement ratio used in all pension calculation is greater or equal than 0.6 hence he needs to go back to them.
  
  Either someone has under valuated his last n salaries or a delibe ...
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  I think there's a problem somewher bcs the replacement ratio used in all pension calculation is greater or equal than 0.6 hence he needs to go back to them.
  
  Either someone has under valuated his last n salaries or a deliberate error has occured.
  
  SSNIT i think need new and vibrant staff to aurgment their current staff strength.

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• Daavi 10 years ago

  A better option is for SSNIT to pay some of the entitlement after every 10 years of service. What can one do with this meager lump some if one does not already own a piece of land or house?

  A better option is for SSNIT to pay some of the entitlement after every 10 years of service. What can one do with this meager lump some if one does not already own a piece of land or house?

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• DAN 10 years ago

  The usa will not pay you lump sum..They are betting that you will die before collecting all even tho underage children can draw their parents benefits...I know people in ghana who have took lump sum and used it un-wisely..tha ...
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  The usa will not pay you lump sum..They are betting that you will die before collecting all even tho underage children can draw their parents benefits...I know people in ghana who have took lump sum and used it un-wisely..thats not really gov problem but its better for Gov . to keep max money and draw interest.. Gov should be buying t bills too that have high interest rates

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• James Naru 10 years ago

  What is required is a very simple system.
  The system will advice contributors to the fund the amount that they have paid every year
  At retirement the fund should then automatically pay the pension directly into the contrib ...
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  What is required is a very simple system.
  The system will advice contributors to the fund the amount that they have paid every year
  At retirement the fund should then automatically pay the pension directly into the contributors bank account.
  There will be no need to go to Accra or go and see someone before payments are made

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• Akua Yirenkyi 10 years ago

  If one wants to talk about SSNIT it will be a serious issue. They are corrupt and always hide important information from their client. I am a victim.

  If one wants to talk about SSNIT it will be a serious issue. They are corrupt and always hide important information from their client. I am a victim.

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• Ankonam 10 years ago

  As far as pensions are concerned, Ghana's pensions industry lives in the Stone Age. Having been beneficiary of a pension scheme, including an early retirement, for the past 23years in Europe, I feel that the treatment meted o ...
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  As far as pensions are concerned, Ghana's pensions industry lives in the Stone Age. Having been beneficiary of a pension scheme, including an early retirement, for the past 23years in Europe, I feel that the treatment meted out to our folks in Ghana is wicked and dare I say unnecessary.
  
  In Ghana no one enters the labour market and straightaway begins thinking about his or her future pension entitlements. One would rather plan getting married and raising multiple kids with a number of women than thinking about a pension. Suddenly, when pension age dawns, panic sets in and the reckless among us begin swearing all sorts of affidavits to enable them reduce their retirement age.
  
  All that aside, the fact remains that the pension industry in Ghana treats its customers shabbily from the outset to retirement date. When I started working in Europe many years ago, the very first Employees' Handbook I was given my first day, contained every information one would need literally to set up and run a comparable organisation and one of those was the organisation's pension policy. There is a minimum qualifying period in all pension schemes after which any employee could write to the Pension Department for a forecast. The forecast would give one an idea of how one's pension pot was doing and whether to increase one's contributions in the form of Additional Voluntary Contributions. Or even if one preferred one could buy another private pension to boost income in retirement. Private Pension Schemes annually send out pension statements to customers and will answer queries any time. It appears that many workers just don't want to be bothered with planning their future. They prefer instant gratification, shall we say, rather than to delayed gratification. The minority who show commitment and seriousness about their income in retirement need all the help they can get from Government and the Pensions Industry.
  
  I sympathise with everything Dr Ofori has said. He is to be applauded for sharing his experience with the public.
  
  In advanced countries, employees know in advance how much to expect in retirement because pensions companies are accessible unlike in Ghana. Pension payment don't miss a date and if for any reason they do, not only would one get an apology but an interest due will be paid. Most pensions, this day and age, are paid directly into nominated accounts the very day they are due unless the dates fall on non-working days. No pensioner in a civilised country would be made to travel and queue or pay a bribe in order to get paid.
  
  No worker deserves to be treated shabbily for his or her pension. The pension industry in Ghana should open their eyes to the advancement in the various sectors of the global business and begin treating their customers with respect.
  
  If I was treated as shabbily abroad receiving my pension like our suffering folks in Ghana, I bet I wouldn't have lived this long to enjoy my retirement. There is no reason why the Pensions Industry in Ghana cannot treat their customers transparently and respectfully. Perhaps, a drastic shake-up should take place URGENTLY.

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