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Pay contributions of staff on their proper earnings – SSNIT warns

Share this…FacebookPinterestTwitterLinkedin Places of work of SSNIT | File picture The Social Security and Nationwide Insurance coverage Belief (SSNIT) has…

By Staff , in Investments , at November 12, 2021

Offices of SSNIT | File photo Places of work of SSNIT | File picture

The Social Security and Nationwide Insurance coverage Belief (SSNIT) has implored employers to pay the contributions of staff on their proper earnings to allow them to get a good pension on retirement.

Dr John Ofori-Tenkorang, the Director-Common of SSNIT, who made the decision, mentioned the quantity a retiree acquired as pension was a mirrored image of his contribution historical past and charged employers to prioritise the pension of their staff.

Dr. Tenkorang made the decision whereas addressing breakfast conferences with employers in Kumasi.

Dr John Ofori-Tenkorang identified that if employers declared small primary salaries of their staff to the Belief and paid them large allowances, the employee can be worse off throughout retirement.

The assembly, which was the second session after the same train in Accra, was aimed toward strengthening the connection between SSNIT and employers to deepen their understanding of the operations of the Scheme.

It additionally sought to allow the employers to understand how the common cost of staff’ contributions may improve their dedication, loyalty and likewise enhance productiveness.

The breakfast assembly with employers instituted by SSNIT in 2019, shaped a part of efforts to enhance service supply to its stakeholders.

The theme chosen for this yr’s engagement was, “Social Security: Employer Compliance and its Impression on Companies and Workers’ Morale.”

Dr Ofori-Tenkorang mentioned human assets was one of many useful commodities that develop companies if correctly harnessed and that it was necessary for employers to hunt the welfare of workers past energetic service.

The function of SNNIT, in keeping with the Director-Common, was to assist handle the retirement legal responsibility of employers by taking that value off the steadiness sheets of their companies when their workers retired.

He mentioned the administration of the scheme has eradicated the lengthy course of that pensioners needed to undergo earlier than receiving their finish of service investments.

He dismissed claims that staff had been higher off by shopping for treasury payments as an funding than what SNNIT provided after retirement, saying that SNNIT was the one pension scheme that paid pensioners till they died.

Deputy Director-Common in control of operations and advantages, Laurette Korkor Otchere, described employers unwillingness to pay temporal and probation employees SSNIT contribution as unlawful. Insisting all classes of workers are entitled to SSNIT contribution.

She disclosed efficient January 2022 the nationwide identification quantity otherwis

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