Home / ENTERTAINMENT / SSNIT Addresses Allegations Of Depleting Reserves

SSNIT Addresses Allegations Of Depleting Reserves

Spread the love

Following the latest concerns over the depletion of its reserves, the Social Security and National Insurance Trust (SSNIT) has taken action to clarify the situation and comfort the public as well as its members.

In a statement released by SSNIT’s management, the trust clarified several points regarding its financial status and ability to sustain benefits payment beyond 2036.

According to SSNIT, the current funds are adequate to meet the benefits obligations to its members. Contrary to claims circulating on various media platforms, SSNIT emphasized that pension payments are not funded by reserves but by contributions and returns from investments.

See also  Have sex before marriage, or your marriage will fail – Gospel musician, Brother Sammy

The trust highlighted the steady growth in contributions, attributing it to the current demographics and efforts to enrol new employers and contributors.

It also assured that investment income has been healthy and would offset any unexpected deficits.

Addressing concerns about the government’s contribution, SSNIT stated that the government is up-to-date with payments on behalf of its workers, with arrangements in place to service outstanding contributions.

SSNIT further emphasized its track record, noting that it has never missed any pension payment since the introduction of the pension scheme in 1991.

See also  Check Out The Full List Of Winners At Ghana Tertiary Prestigious Awards 2021

“We assure all members and the public that we will continue to ensure prudent management of the Fund to meet its benefits payment obligations beyond 2036,” the statement read.

The statement comes amidst growing concerns about the sustainability of SSNIT’s pension payments, with some questioning the trust’s ability to fulfil its obligations in the long term.

Check out the statement below:





THANK YOU for constantly reading stories on MyGhanaMedia.com, a news publishing website from Ghana. Kindly like, follow, comment, and SHARE stories on all social media platforms for more entertaining updates!

Please subscribe to our YouTube channel:  https://youtube.com/@mgmtv113
Follow us on Facebook:  https://www.facebook.com/myghanamedia3
  Click on the link to join the My Ghana Media channel:  https://whatsapp.com/channel/0029VaPItUF4tRrplYzhHn0U


See also  Asamoah Gyan: Black Stars Need A Coach Who Won’t Take Orders From People

Source:  MyGhanaMedia.com


There are four types of content published on MyGhanaMedia.com daily: curated content; syndicated content; user-generated content; and original content.







Send your news stories to myghanamedia@gmail.com 





About Adwenpa-Hene

we publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: myghanamedia@gmail.com Contact Us: 0200818719

Check Also

Ghana: Today’s Newspaper Headlines; Friday, May 24, 2024.

Spread the love Below  are the major news headlines captured on the front pages of …