Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Ghana. Approval for SSNIT pension reforms expected shortly

Discussions and consultations concerning a proposal put forward by the external Actuaries on the Social Security and National Insurance Trust (SSNIT) scheme who recommended a 19.2 percent contribution rate to replace the existing 11 percent rate being implemented are expected to be concluded early this year.

The move is part of a number of amendments and reforms that are being considered for implementation in the National Pension Act, 2008 (Act 766) by sector Administrators – National Pension Regulatory Authority (NPRA) and SSNIT in consultation with the Trades Union Congress (TUC). Importantly, the actuarial evaluation report insists that the 19.2 percent rate is expected to improve workers’ life expectancy after retirement as well as ensure the sustainability of the pension funds.

Already, management of the Trust has put together a list of amendments and reforms needed to be considered to enable the SSNIT pension scheme to become more robust and sustainable in order to enhance the purchasing power of pensioners in the country.

Read more @Mobile Ghana Web