Minimum wage in Ghana is nowhere near minimum, workers deserve more than this – Bokpin

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An Economist and Professor of Finance, Godfred Bokpin, has said regarding the current minimum wage in Ghana that workers deserve more than what they are receiving.

He said the current wage is nowhere near what workers are supposed to derive.

The minimum wage of Ghana was revised with effect from 01 January 2022.

The daily wage was increased from 12.53 cedis to 13.53 cedis.

In the view of Prof Bokpin, this is low.

“Our minimum wage is no where near minimum at all. The workers deserves more than this. Perhaps when we are going for negotiations we should go with data for comparison,” he said this during the Ghana National Association of Teachers (GNAT) Investment Forum held at the University of Ghana on Wednesday June 29.

Regarding Social Security and National Insurance Trust (SSNIT) investment, he noted that the investments have been running in the negatives over the past periods.

He therefore urged the management of SSNIT to scale up their efforts in this area.

“The returns of the investments have been negative and this is where I believe SSNIT should up their game,” he said.

He added “In terms of pensions coverage we are not doing badly at all.”

The Director of the SSNIT, Dr. John Ofori-Tenkorang refuted the claim the the investment are running into the negatives.

He assured that SSNIT is the best form of pensions scheme anyone can get.

“The SSNIT scheme is the best that you can ever get anywhere else as far as pensions is concerned, if you don’t join to contribute you are harming yourself,” he said.

By Laud Nartey||Ghana

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