The Social Security and National Insurance Trust (SSNIT) has objected to calls for a reform of the scheme.
The Trades Union Congress (TUC) had made the assertion, arguing that the scheme only favoured a few privileged people and hence must be overhauled.
TUC’s stance comes on the back of data from SSNIT which revealed that its highest paid pensioner earned over 140,000 per month while the least stood at about GH¢300.
The Director General of SSNIT, Dr. Ofori-Tenkorang believes the position of TUC does not hold enough grounds for the reorganization of the scheme as payments were mainly based on contributions over a period.
“I don’t think that disparity in itself is enough basis for a reform. SSNIT is an insurance company, all it does is to insure incomes of workers. Just like people will take their cars of different models and go to an insurance company to buy insurance for the car so that it is replaced in case of say theft, all SSNIT does is insure people’s income.”
“There are those who earn GH¢500, whereas others earn GH¢10,000, GH¢100,000 and above. All these people have the right to insure their income. When you walk to us, what you are looking for is a replacement of what you insure. If you earn GH¢500, you will give its equivalent, likewise someone who brings GH¢10,000. The disparity will always exist.”
TUC is demanding what it calls the total overhaul of the Social Security and National Insurance Trust.
Some of the reasons given by the Secretary-General of the union, for the call, include disparities in the pension scheme and the low pension premium paid to public sector retirees.
