SSNIT allays fears of pensioners over UT, Capital banks takeover

The Social Security and National Insurance Trust (SSNIT) has asked retirees who receive their benefits through erstwhile UT Bank and Capital Bank to “continue visiting their banks for their pension payments”.

The two banks were taken over by GCB Bank last week as per a Purchasing and Assumption Transaction with the Bank of Ghana.

They were said to have suffered severe impairment to their capital.

But GCB Bank immediately assured customers of the two banks of smooth operations as they also become the state-owned bank’s customers.

In a public notice on Tuesday, published in the Daily Graphic, SSNIT assured pensioners that “nothing has changed with the takeover of UT Bank and Capital Bank as far as their pension payments are concerned”.

The pensions-management body earlier this year increased the monthly payments by 18 per cent, shooting the minimum payment from GH¢276 to GH¢334.81.

By Emmanuel Kwame Amoh||Ghana

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