Madam Jemima Ofori, External Communications Manager at the Social Security and National Insurance Trust (SSNIT), has urged workers to take their pension contributions seriously and start preparing for their future while they are still working.
She made the call during an interview with Rev Erskine on the MYD-Morning Show, where she explained how SSNIT contributions work, who can join the scheme and the benefits workers can receive from contributing to it.
Madam Ofori said SSNIT manages Ghana’s first-tier pension scheme and provides financial support to workers when they retire. She stressed that while workers focus on their present needs, they must also make provisions for the future.
“You become responsible for your own future today,” she said.
According to Madam Ofori, workers contribute a total of 18.5% under the pension arrangement. The employer contributes 13%, while 5.5% is deducted from the worker’s salary.
She explained that of the 18.5%, 5% goes into the second-tier pension scheme managed by private trustees, while 2.5% is remitted to the National Health Insurance Scheme. SSNIT manages the remaining 11% under the first tier.
Madam Jemima said workers can qualify for a pension after making contributions for a minimum of 180 months and encouraged them to monitor their contributions regularly rather than waiting until retirement.
Workers can check their contribution statements online after updating their email addresses with SSNIT. She also advised employees who suspect that their employers are not paying their contributions to report the matter to any SSNIT office.
She further noted that pensioners receive annual increases in their pension payments and highlighted SSNIT’s Membership Value Programme, which gives contributors access to discounts from participating businesses and service providers.
Madam Ofori also mentioned SSNIT’s mobile app and Virtual Branch, which allow members to access selected services remotely, including updating beneficiary information.
She disclosed that SSNIT’s highest-paid pensioner currently receives more than GH¢213,000 a month, adding that a worker’s pension is influenced by factors including salary, contribution history and age.
Madam Jemima encouraged young workers and self-employed persons in particular to start contributing early, reminding them that retirement is something every worker will eventually have to prepare for.
By: Sakina Mustapha