₵ediland Forum

Welcome, Guest: Join Cediland / LOGIN! / Profile / #Trending
Stats: 99 members, 46 topics. Date: Friday, 23rd August 2019. Time:10:50:34pm

 

25% of Ghanaians earn GH¢400 or less – SSNIT explains low pensions

Cediland Forum / 25% of Ghanaians earn GH¢400 or less – SSNIT explains low pensions / Category / Business / 25% of Ghanaians earn GH¢400 or less – SSNIT explains low pensions

Free SHS should not solely be funded with petroleum revenue – PIAC / Cocoa producers and buyers fail to agree on US$2,600 floor price / Nigerian traders have special trading skills, deportation not answer – Kumasi Tycoon / UK urged to help revive defunct Kumasi factories / Socfin Group to build $20m oil palm processing factory at Daboase /

(0) (Reply)

25% of Ghanaians earn GH¢400 or less – SSNIT explains low pensions by : 8:40 pm On July 9, 2019

Director-General of the Social Security National Insurance Trust (SSNIT), Dr John Ofori-Tenkorang, the often-cited low pension payment is because Ghanaians earn low salaries.

Dr Ofori-Tenkorang revealed on the business edition of the PM Express on Thursday that some 25% of Ghanaian workers who contribute to the SSNIT scheme make as little as GHS400 Ghana cedis or less.

The monthly salary for a person earning the minimum wage of GHS8.8 is GHS264, meaning a quarter of Ghana workers earn a little above the daily minimum wage.

“50% of all the contributors said they were earning gross salaries of 1,000 Ghana cedis or less – In the formal sector. 71% of people in the formal sector say they are earning 1,800 or less,” the SSNIT boss read from a chart showing the distribution of monthly pensions versus salaries for February 2019.

Dr Ofori-Tenkorang said for Ghanaian workers to earn higher pension during retirement, allowances should be added to the basic salary.

According to him, that will increase the total income on which pension are deducted.

That, therefore, will require the amendment of the law regulating pensions but the National Pensions Regulatory Authority (NPRA) does not back the proposal for a review of the pension laws.

CEO of the NPRA, Hayford Atta Krufi, said on PM Express on MultiTV that there can be a national conversation about the proposal but the current law must be made to work.

“I believe that we need to get the law to work a little bit…because 2020 is actually where the first batch of those who came under Act 766 as amended will be going on mandatory retirement,” he said.

He said if pension payments become the result of agitations about low payouts, growth and sustainability becomes an issue.

Source; myjoyonline

Sharing is Caring

Reply

Please Observe The Following Rules:

1. Please post all threads in the right section, and don't derail threads by posting off topic.

2. Don't abuse, bully, deliberately insult/provoke, fight, or wish harm to Cediland members OR THEIR TRIBES.

3. Don't threaten, support or DEFEND violent acts against any person, tribe, race, animals, or group (e.g. rape).

4. Discussions of the art of love-making should be restricted to the hidden sexuality section.

5. Don't post pornographic or disgusting pictures or videos on any section of Cediland.

6. Don't say, do, or THREATEN to do anything that's detrimental to the security, success, or reputation of Cediland.

7. Don't post false information on Cediland Forum.

8. Don't use Cediland Forum for illegal acts, e.g scams, plagiarism, hacking, gay meetings, incitement, promoting secession.

9. Don't violate the privacy of any people e.g. by posting their private pics, info, or chats without permission.

10. Don't create distracting posts with: ALL WORDS BOLD / huge font sizes / ALL CAPS / distracting imagesspaces, etc.

11. Please search the forum before creating a new thread on Cediland.

12. Don't attempt to post censored words by misspelling them.

13. Don't spam the forum by advertising in the wrong places or posting the same content many times.

14. Please spell words correctly when you post, and try to use perfect grammar and punctuation.


You must be logged in to post a comment.

(0) (Reply)

Free SHS should not solely be funded with petroleum revenue – PIAC / Cocoa producers and buyers fail to agree on US$2,600 floor price / Nigerian traders have special trading skills, deportation not answer – Kumasi Tycoon / UK urged to help revive defunct Kumasi factories / Socfin Group to build $20m oil palm processing factory at Daboase /

1 User Viewing this topic:
Users: 1 Guest