The Takoradi Branch Manager of Social Security and National Insurance Trust (SSNIT) in the Western Region, Mr. Jerry Ghartey, has said the scheme has gained so much currency that some African countries have studied it to assist them in planning theirs.
In an interview with The Ghanaian Times to mark SSNIT’s 50th anniversary at Takoradi, the branch manager stated that Nigeria was studying SSNIT laws and acts for application to their scheme.
Mr. Ghartey said PNDC Law 247, Act 766 which had been amended to Law 766 Act 883 was necessary because SSNIT was still paying the monthly and lump sum to contributors.
He said some contributors agitated that what SSNIT was paying as lump sum was woefully inadequate as a contributor had the option to collect 25 per cent lump sum and the residual would be calculated and paid monthly.
Mr. Ghartey said some of these agitations resulted in the Three Tier, which allowed a trustee to be in charge of the Two Tier to manage it and pay the lump sum.
He said with PNDC Law 247, the contributors’ contributions were reduced from 17 ½ per cent to 13 ½ per cent ,allowing 5 per cent to be sent to the managers of the Tier Two.
Mr. Ghartey said Tier One Tier Two were compulsory and Tier Three was optional resulting in an amendment of Act 883, adding that concessions were given to people to move from the old system to the new through the transitional period.
However, he explained that all those within the age bracket of 55 years and above were compulsorily to remain with the old scheme.
Mr. Ghartey intimated that non-Ghanaians working in Ghana and receiving salaries in the country, were to be under the scheme.
He said those who did not qualify would be computed and the money given to them before departure.
From Peter Gbambila,Takoradi