The media, labor unions, and civil society organizations (CSOs) are being urged to pay more attention to the actions of the Social Security and National Insurance Trust (SSNIT) by the Ghana National Association of Teachers (GNAT).
In order to solve the issues facing SSNIT and guarantee the longevity of the pension system, Thomas Musah, the General Secretary of GNAT, underlined the necessity of group effort.
He emphasized the concerning results of the 2021 Auditor General’s report, which showed that as of December 2020, the government owed SSNIT over GH¢4.4 billion.
By December 2021, this sum—plus the 3 percent penalty for late payments—grew to an astounding GH¢9.3 billion, of which GH¢6.9 billion was attributable to penalties alone.
Concerns over the future of Ghana’s pension system and the welfare of pensioners are on the rise by the disclosures.
Mr. Musah emphasized that this is a well-known issue that has been discussed in earlier reports, and he urged interested parties to take aggressive steps to resolve it.
He urged the media, labor unions, civil society groups, and parliament to give the sustainability of SSNIT a priority.
He made it clear that maintaining a respectable level of life for retirees is just as important as planning for the future.
According to Mr. Musah, the pension system needs to remain viable for future generations.
