SSNIT is wrong and unfair to calculate pensions benefits the way it does

The Administrator of the Health Workers Union of the Trades Union Congress, Ghana, Isaac Mensah, thinks the Social Security and National Insurance Trust (SSNIT) scheme is fleecing contributors by its weird calculation of benefits.

He does not understand why workers should be ‘penalised’ for keeping their money with the scheme for so many years and also wonders why SSNIT should calculate benefits based on a contributor’s first three years in employment, which is most often lower than the last three years in employment and guarantees the contributor a better pension.

Isaac Mensah was contributing to discussions on Pensions at the Graphic Business/Stanbic Bank Breakfast Meeting in Accra on Tuesday, September 19, 2017, held at the Labadi Beach Hotel.