The Civil and Local Government Staff Association, Ghana (CLOGSAG) has appealed to President Nana Addo Dankwa Akufo-Addo to direct the Social Security and National Insurance Trust (SSNIT) to restructure its management and administrative system to assure workers of income security in retirement.
According to the Executive Secretary of CLOGSAG, Mr Isaac Bampoe-Addo, SSNIT was to reduce its administrative cost, high staff numbers and poor returns on investments per a recommendation given by a Presidential Commission on Pensions established by former President John Agyekum Kufuor in August 2004, but the Trust did not heed the recommendation.
“The commission recommended that SSNIT, as an institution, should undergo an extensive restructuring which should involve an overhaul of its governance, management and administrative structure.
“Also, the proposed increase from one to three Deputy Director Generals ought to be re-examined by the SSNIT management, “ he noted.
Mr Bampoe-Addo was speaking during a 2020 May Day celebration and thanksgiving service organised by CLOGSAG in Accra yesterday.
Retirement income
He noted that the government, among others, accepted the commission’s recommendations for a contributory three-tier pension structure, comprising two mandatory schemes and a voluntary scheme.
Another recommendation was for a mandatory basic state social security scheme to be managed by a restructured SSNIT, which will pay periodic monthly and other pension benefits.
“These cost-saving measures that would have enabled SSNIT to effectively and efficiently manage its commitment under the Three-Tier Pension Scheme have still not been initiated,” Mr Bampoe-Addo stated.
He, however, expressed the hope that a unified pension structure for all categories of workers in Ghana would be attained.
Thanksgiving service
Delivering a sermon at the service, the resident pastor of the association, Pastor Michael Adebisi, encouraged the public to avoid fear and believe that the fight against COVID-19 was in the hands of God.
He urged the public to continue to have faith and always give thanks to God, noting that God had the nation at heart, thus no epidemic would rule over it.
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