The Social Security and National Insurance Trust (SSNIT) has revealed that it had made well over GH¢3.4 billion in payments in pension benefits to pensioners for the month of October 2022.
Management of the Social Security and National Insurance Trust (SSNIT) has also projected to pay a little over GH¢4.1 billion to beneficiaries by the close of the year 2022.
Speaking to the media on the sidelines of the opening of a SSNIT Operations and Benefits Conference at Koforidua in the Eastern Region, the Director General of SSNIT, Dr. John Ofori Tenkorang indicated that the estimated 4.1 billion will improve the welfare of pensioners, especially in these hard times.
“As of October 22, the Trust had paid over GH¢3.4 billion and this is pension payments and also survivors’ benefits and lump sums which are the one-time payments we pay to people that do not qualify for a pension.”
“I will imagine also that we will close the year having paid between GH¢ 4 billion and GH¢4.1 billion. As you can see, this is a significant amount of money that gets pumped into the Ghanaian economy to help pensioners survive and this shows you how systemic and how important our organization is and that we should take the SSNIT business seriously and for those people who are working in Ghana today who haven’t joined SSNIT, they should know that we are there to pay, and it will serve them very well if they come and join us.”
This is an improvement from the GH¢2.7 billion paid out to pensioners same time last year.