The Management of the Social Security and National Insurance Trust (SSNIT) has reiterated that pension funds are excluded from the Debt Exchange Programme.
Director-General Dr. John Ofori-Tenkorang, who disclosed this allayed the gears of pensioners stating that the Social Security and National Insurance Trust (SSNIT) funds are exempted from the debt exchange programme.
He was responding to a question a journalist posed to him on the sideline of a brief event with the leadership of the National Pensioners Association at the Pension House in Accra.
According to Dr. Ofori-Tenkorang, Finance Minister Ken Ofori-Atta has already informed us that pension funds are not eligible for the Debt Exchange Programme.
“We had several meetings with the government, and we can assure pensioners that the Debt Exchange Programme does not include pension funds. This is not to say that we are without problems. We are operating in a turbulent economy, but we are confident that we will overcome the challenges.”
“We are in difficult times, but with difficulty comes opportunity. We have increased pensions by 25% in response to these challenges. This will help people understand that SSNIT is doing everything possible to help pensioners. This is why the Pensioners Association has expressed gratitude to SSNIT.”
Meanwhile, he has indicated the initiative to expand coverage of the Basic National Social Security Scheme to self-employed workers would begin this year.
He said it was necessary to extend coverage to informal sector workers not only to increase active membership and contributor base of the Scheme but also to ensure that every worker in Ghana enjoys social protection.
He declared that no pension scheme in Ghana could compete with SSNIT because it provides contributors with lifelong benefits.