Ghana Archives - Page 8 of 15 - Pension Policy International

23SepSeptember 23, 2022

Ghana. NPRA to collaborate with Goasomanhene to promote ‘one trader one SSNIT number’ campaign

The Sunyani zonal office of the National Pensions Regulatory Authority (NPRA) has indicated its readiness to collaborate with Nana Kwasi Bosomprah, Paramount Chief of the Goaso Traditional Area on his 'one trader, one SSNIT number' campaign. The idea of the Paramount Chief is to encourage every trader have a Social Security and National Insurance Trust (SSNIT) number and contributed to the scheme. The collaboration became a reality when Mr David Tetteh-Amey Abbey, the Deputy Chief Executive Officer of the NPRA...

September 23, 2022

NewsGhana, Operations

21SepSeptember 21, 2022

Ghana. Public Services Pensioners Association inaugurated

The Civil and Local Government Staff Association, Ghana (CLOGSAG), Tuesday inaugurated the Public Services Pensioners Association (PSPA) to support staff on retirement within the Public Services Organisations. The Association would also unite all retirees of CLOGSAG, seek the welfare of members, provide solidarity, promote togetherness, identify problems retirees go through, advocate for the rights of members and lobby the Government to improve the pension system in the country. Mr Bright Wireko Brobbey, a Deputy Minister, Ministry of Employment and Labour Relations (MELR),...

September 21, 2022

NewsGhana, Labor Market

06SepSeptember 6, 2022

Ghana. Pensions industry loses US$800 million in 2 years to weakening cedi

The Executive Secretary said although the cedi value of assets under management (AUM) has increased, the dollar value of those assets has fallen. Detailing the situation in an interview with the B&FT, Mr. Esso said: “The effect of the [local] currency’s depreciation has affected the assets under management in the pensions industry. In 2020 the industry in cedi terms was about GH¢22billion, and when you juxtapose that with the dollar there was about US$3.8billion. “Currently, we are looking at an estimate...

September 6, 2022

NewsGhana, Political economy

23AugAugust 23, 2022

Ghana: Pension Scheme Provides More Reward – SSNIT DG

The Director General of the Social Security and National Insurance Trust (SSNIT), Dr John Ofori-Tenkorang, has argued that the pension scheme provided more reward to clients than they invest during their days of active service. He lauded the scheme as generous and said although workers contributed 11 per cent of their basic salary, the SSNIT scheme guaranteed members up to 60 percent of the average of their best three years' salaries and paid them monthly pensions till they were no...

August 23, 2022

News2022, Ghana, Pension design, Replacement Rate

15AugAugust 15, 2022

Ghana. SSNIT to embark on mass registration exercise

The Social Security and National Insurance Trust (SSNIT) says it will soon embark on a mass registration exercise, especially among those in the informal sector to shore up its membership. The prime objective is to ensure many Ghanaian workers are enrolled onto the scheme as against the current situation where only 1.7 million out of the remaining millions of the workers are active members of SSNIT. Read more Nigeria. Pension fund, contributors hit N14trn, 9m respectively – PenCom Dr. John Ofori-Tenkorang, the...

August 15, 2022

News2022, Coverage, Ghana, Pension Management

11AugAugust 11, 2022

Ghana National ID card will save SSNIT $126 million

Director-General of the Social Security and National Insurance Trust (SSNIT) Dr. John Ofori-Tenkorang has said the GhanaCard will save the state pensions body several millions of dollars in the long term if properly synced to capture the bio-data of Ghanaians working and their survivors. According to him, only 2 million of the estimated 10 million working Ghanaians in both the formal and informal sectors are active SSNIT contributors and have been issued with biometric identity cards, while efforts are being...

August 11, 2022

News2022, Ghana, Operations

14JulJuly 14, 2022

SSNIT reveals huge disparity among pensioners: Highest pension is GH¢142,000, while lowest is GH¢300 monthly.

The top ten highest paid pensioners in Ghana receive between GH¢142,567.90 to GH¢42,187.83 every month whilst the lowest on the scheme receive between GH$300 and above, the Social Security and National Insurance Trust (SSNIT) has revealed. The Social Security and National Insurance Trust (SSNIT or the Trust) is a statutory public institution charged under the National Pensions Act, 2008 (Act 766 as amended by Act 883) with the administration of Ghana's Basic National Social Security Scheme. Its mandate is to cater...

July 14, 2022

News2022, Equality, Ghana, Income, Replacement Rate

25MayMay 25, 2022

Elderly in Ghana: Forgotten or presumed dead?

We live in interesting times. Suddenly, living conditions in many parts of the world have become unbearably harsh and people are agitating for concrete steps to be taken in order to maintain their standard of living. In Ghana, many worker unions have pushed (through demonstrations and strikes) for increases in salaries and allowances that compare with the cost of living or reflect the rate of inflation. Like a big industrial machine, our country has set up a network of systems that...

May 25, 2022

News2022, Aging, Ghana

24MayMay 24, 2022

Ghana. 4 Bodies Collaborate To Give Drivers Pension & Insurance Package

Westom Insurance Brokers in collaboration with People's Pension Trust (PPT), Prudential life Insurance and Premier Health Insurance has launched a pension and an insurance package for members of the Ghana Private Road Transport Union (GPRTU). Known as the ‘Anidaso Plan’, the package offers three in one Pension/Life insurance/Health Insurance plan to members. It also covers the principal’s immediate dependents, that is, spouse and children. The ‘Anidaso Plan’ is a comprehensive pension and insurance package that has been specially designed to offer...

May 24, 2022

News2022, Ghana, Informal Sector

17MayMay 17, 2022

Vice president commits to “significantly increase number of Ghanians in pension schemes”.

Vice President Dr Mahamudu Bawumia has said a well-regulated and functioning pension system is a major driver for investment and development of the country. Read also Arab Pensions Conference grows into key regional platform Together with the National Pensions Regulatory Authority (NPRA) and all stakeholders, Dr Bawumia said they will work together to accelerate the pace of pension acceptance through the use of digitalization, but to focus on designing and rolling out tailored pension schemes for the informal sector, such as...

May 17, 2022

News2022, Coverage, Ghana, Informal Sector

September 2022

Ghana. NPRA to collaborate with Goasomanhene to promote ‘one trader one SSNIT number’ campaign

Ghana. Public Services Pensioners Association inaugurated

Ghana. Pensions industry loses US$800 million in 2 years to weakening cedi

August 2022

Ghana: Pension Scheme Provides More Reward – SSNIT DG

Ghana. SSNIT to embark on mass registration exercise

Ghana National ID card will save SSNIT $126 million

July 2022

SSNIT reveals huge disparity among pensioners: Highest pension is GH¢142,000, while lowest is GH¢300 monthly.

May 2022

Elderly in Ghana: Forgotten or presumed dead?

Ghana. 4 Bodies Collaborate To Give Drivers Pension & Insurance Package

Vice president commits to “significantly increase number of Ghanians in pension schemes”.