We’ve enough reserve to pay accrued benefits – SSNIT

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The management of the Social Security and National Insurance Trust (SSNIT) has assured all contributors that the scheme has enough reserves to pay accrued benefits.

The Acting Public Affairs Manager Charles Akwei Garshong said this in an interview with TV3.

“For now we have enough reserve to pay accrued benefits and pensions that are due. It is true that we need to register more, it is true that we need to collect more, so management has put in enough measures.

“We are actually working very hard to register more people and we are collecting the contributions that are in arrears. As of September we have closed to 7000cases in court , people there are being prosecuted for nonpayment of contributions,” he told TV3 in an interview.

The management of SSNIT recently announced an adjustment of the 2022 pension. Per the adjustment, pensioners are expected to receive 10% increment.

SSNIT said in its Indexation of Pensions 2022 report that on Tuesday January 11 that “Lowest earning pensioners will get an indexation rate of 10.83%.”Indexations-2022-presentation-Final-2Download

All pensioners would receive an increase, equal to or above the targeted inflation rate for 2022, the Trust added.

The projected expenditure on pension for 2022 is GH¢ 3.5 billion.

“Management of the Trust will continue to work hard to guarantee positive annual indexation for pensioners bearing in mind the long term sustainability of the Scheme,” SSNIT said.

“The Trust remains committed to paying all legitimate benefits accurately and timeously,” it added.

By Laud Nartey|3news.com|Ghana

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