The Director-General of SSNIT, Kofi Osafo-Maafo, has called for discussions regarding the aggregation of salaries and allowances to improve pension payments.
Speaking to the media , Osafo-Maafo stated, “The SSNIT scheme is overly generous.
What we need to understand is that the SSNIT scheme is based on your basic salary.
So if your basic salary is low, or a smaller part of your total take-home pay is considered for your pension, then when you retire, you are going to have a problem.”
He further explained that “what you put in is what you get out,” emphasizing that pension benefits are a direct reflection of contributions made during one’s working years.
“If you look at your basic salary, whatever figure is there, your pension will be a function of that,” he added.
He urged companies to improve pension payments, “we have to look at what goes into the contributions to SSNIT.”
He also reassured pensioners that the Social Security and National Insurance Trust (SSNIT)has the ability to continuously pay their pension benefits for many years, despite recent contrary reports.
Pension benefits: Discuss salaries & allowance aggregation with staff to improve payments – SSNIT.#JoyNews pic.twitter.com/bmqFTJTziF
— Joy 99.7 FM (@Joy997FM) December 28, 2024
