SSNIT is protecting your pension contributions – Dr. Tenkorang

The Director-General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori Tenkorang, has assured pension contributors of the safety of their investments. According to him, an investment team has been set up to manage the investments and ensure that the ones that are not performing are restructured. Speaking at the 2022 SSNIT Employers’ Breakfast Meeting, Dr. John Tenkorang noted that most of its investments that are not performing are old investments. “I want to assure members and clients that we are very much engaged in managing our investment portfolio. You know investment goes in cycles, some may do well and others may not do well. So, we have an investment team that is fully engaged in making sure that all old investments are restructured to yield the needed benefits,” he is quoted by myjoyonline.com. He added that: “A lot of the investments which appear not to be doing well are all legacy projects which were done long ago. They are not investments we recently did.” Dr. Tenkorang however stated that all old investments that are not yielding will be restructured, however, investors are being called on to partner with the Trust for further investments. “So, we are restructuring all old investments. Those that we feel that we are not suited to be a majority shareholder and we need to invite people who are business minded to come and partner with us, we are doing same”, he added. Meanwhile, concerns have been raised over the safety of 94% of Tier 2 contributions which are being held as government securities. In the case of a debt restructuring policy pending the conclusion of negotiations with the International Monetary Fund, these securities may be affected. Watch the latest episode of BizTech below: SSD/FNOQ