SSNIT advises informal sector workers to join pension schemes

Mr Joseph Opoku, the Chief Actuary, Social Security National Insurance Trust (SSNIT) has advised workers in the informal sector to join and contribute to the Trust Pensions, especially the 'Pension for life Scheme'.That would provide them with sound financial security in old age, he told the Ghana News Agency (GNA) on the SSNIT Self Employed Enrolment Drive (SEED) campaign organised by the Trust at Techiman in the Bono East region.'In fact, under the Life Scheme, the Trust is in the position to provide benefits that other institutions might not be ready to provide,' he stated, saying the Trust provided other benefits including the 'Invalidity Pension.'The invalidity pension, he explained, was geared towards providing life benefits for individuals might be incapacitated permanently due to accidents and other unforeseen contingencies.Mr Opoku added however that only contributors who had contributed for a minimum of 12 months regardless of their age were qualified for the benefits.'In an advent of a r ecovery, benefits that are provided during the time of incapability are zeroed and such an individual can continue with his usual contributions and qualify for the available benefits too.'On the survivor's benefits, Mr Opoku said SSNIT provided a life insurance cover to the dependents of the contributor in case the contributor died before his or her retirement or when the contributor had not fully received benefits before aged 75 years.'These attest to the fact that contributors under the SSNIT scheme access benefits that other institutions might not provide,' he stated, adding that workers in the informal sector had the same opportunity and could equally benefit from SSNIT pensions.'SSNIT pension presents the best value proposition that you can ever get, and I can confidently tell you that no institution can provide the kind of benefits we provide,' he stated.Mr Opoku explained that the Trust was embarking a nationwide campaign to sensitize the masses and inspired especially self-employed people to j oin its pension scheme through the SEED initiative dubbed the 'Operation-A-Thon.'Earlier, personnel of the Trust held a procession through some principal streets of Techiman and educated traders and women and the Techiman market on the need for them to join the scheme.They held placards which read 'the only pension scheme that pays you for life,' 'join SSNIT and get free National Health Insurance,' 'bring 13.5 percent of your income and get up to 60 percent' and 'the only scheme that provides you with life insurance at no extra cost'.Source: Ghana News Agency