SSNIT honours seven companies

Takoradi Dec.14 - GNA - Takoradi Area Social Security and National Insurance Trust (SSNIT) on Wednesday presented awards to seven local companies for promptly paying their employees contribution, submitting accurate data on time and for co-operating with the Trust. The Benso Oil Palm Plantation (BOPP) was presented with the best employer award in the large-scale business category. The West Africa Mills Company (WAMCO) Limited and the Ahantaman Rural Bank Limited received best employers awards in the medium-scale business category. The Assinman Rural Bank, Saint Jude Resources Limited, Interoc Ghana Limited and the Community Water and Sanitation Agency were presented with small-scale business category awards. The awards ceremony forms part of the celebration of the 40th anniversary of the SSNIT. Speaking at the ceremony, Mr Kwasi Osei, Director-General of SSNIT, said the Trust has introduced e-Pension, a new system designed to manage and ensure quick pension payment to all pensioners using the Ghana Interbank Settlement System (GIS) of the Bank of Ghana.

Mr Osei said the system is working perfectly well and this would eliminate the frustration associated with the disbursement of pensions. He said promptness and certainty in pension payments are a mark of good pension administration and the Trust is determined to make this the standard of its pension scheme. Mr Osei said collected contributions of 76 point 1 billion cedis as at October 2005, exceeding its target of 71 point 7 billion cedis. He said, "Against the backdrop of difficulties encountered by many employers, the Area's performance is highly commendable". Mr Osei said successful administration of the pension scheme depends on the Trust, the Employer and the worker. He said the Trust's responsibility is to identify and register all employers and workers and to establish the administrative structures to ensure that employers pay contributions of workers regularly. Mr Philip Kwesi Nkrumah, Shama-Ahanta East Metropolitan Chief Executive, who presided, said employers should recognise their responsibilities to their employees and pay their SSNIT contributions.