Forum for Public Sector Registered Pension Schemes has given the Ministry of Employment and Labour Relations (MELR), a one week ultimatum to ensure that the Social Security and National Insurance Trust (SSNIT) pays ‘past credit’ to pensioners.
It said, if the sector minister failed to address the issue before November 18, members of the forum, which included health service workers (doctors, midwives, nurses and pharmacists), educational stakeholders (teachers, headmasters), Judicial Council and other civil servants would embark on a strike.
Chairman of the forum, Mr Isaac Bampoe Addo, addressing journalists on Monday in Accra, said SSNIT was not ready to comply with the directives from National Pensioners Regulatory Authority (NPRA), hence a call on MELR to ensure management of SSNIT complied with the order.
“The forum is reliably informed that SSNIT is not going to comply with NPRA directives, which states that on October 29, 2019, SSNIT has to calculate the issuance of statements for each contributor on past credits earned as at December 21, 2009, based on 100 per cent Treasury Bill Rate compounded quarterly,” he said.
Mr Addo explained that the implementation of Tier Two pensions would take effect on January 1, 2020, and said that pensioners’ income needed to be secured to help them to cater for their pressing and future needs.
Mr Addo, who doubles as the Executive Secretary of Civil and Local Government Staff Association, Ghana (CLOGSAG), asked the MELR to secure the growing retirement income in order for retired members to be paid past credit that reflected the basis of payment outlined by the NPRA.
Mr Addo said the forum had observed that the stance of SSNIT was a tactical move to sabotage the smooth implementation of the three-tier pension scheme, and called for urgent solution to address the problem.
“It is worth noting that SSNIT is highly instrumental in getting the original implementation date of January 1, 2015 to January 1, 2020, which resulted in the enactment of the National Pensions Amendment Act, 2014 (Act 883),” he added.
BY BENEDICTA GYIMAAH FOLLEY