SSNIT proposed an increment in the 11% contribution from contributors

The management of the Social Security and National Insurance Trust (SSNIT) has indicated that they are proposing an increment in the 11% percent contribution from contributors as the current amount was too low compared to the return benefits from the scheme.

The Chief Actuary at the SSNIT Mr. Joseph Poly made this remarks at the Pension Conference 2022 organized yesterday by Penguard Business Solutions and Consulting and Ghanatalk business.

According to Mr. Poku, the scheme is paying out increasing benefits to its contributors due to the increasing number of employees’ retirement.

He also called for an increment in the retiring years of Ghanaian employees from the compulsory 60-65 years as this will increase members’ contribution to sustain funds for the scheme.

The increments will help SSNIT accrue more funds as contributors to the scheme stay longer.

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