SSNIT Hints Of Major Reforms In Pension Scheme


Social Security and National Insurance Trust (SSNIT), will soon embark on major reforms in the National Pension Scheme to conform with international standards.


The Deputy Director General in-charge of Finance and Administration, Michael Addotey Addo, announced this on Saturday at a media encounter in the Eastern Region, but declined to give details of the reforms.

He disclosed that, a department at SSNIT, is currently engaged in working on the possible reforms and sooner rather than later, the details, would be made public.

The encounter which was at the behest of SSNITS’s senior management, was to throw light on the activities of the Trust in the areas of revenue mobilization, disbursements and investments in several ventures, including the financial sector, services, energy, manufacturing and real estate, residential properties, community markets and malls, car park complexes among others .

It was also to help create awareness on the Trust, and enable contributors, appreciate how SSNIT is being managed by the Dr. John Ofori-Tenkorang administration, which has been in office since 2017.

The Deputy Director General in-charge of Finance and Administration, disclosed several administrative measures at SSNIT, including attendance monitoring system. This has improved professionalism and also enhanced worker productivity at the Trust.


The Trust, Mr Addo, further revealed has also rectified distortions in promotion for qualified staff, who had not been promoted for over six years. The task which commenced in 2017 and was completed in 2018, had also led to a boost in staff morale and worker productivity.

Keen on achieving the mandate placed on the Trust by the National Pension Act, management is also said to have busied itself with staff training, development in a quest to retain the best human resources to help achieve this objective.

In this regard, there is a periodic vetting of academic certificates of staff and those found with fake certificates, have had their employment terminated.

Indeed, the Director-General of SSNIT, Dr. John Ofori-Tenkorang, revealed that nine junior workers with fake certificates, have been investigated by the Economic and Organized Crime Office (EOCO), and arraigned before court.

According to him, EOCO, got interested in the fake certificate matter at SSNIT, and managed to trace the manufacturers of the forgeddocument to an internet café in Dansoman – Accra.

The café, he disclosed, had in its possession the exact certificates of universities, including the University of Ghana and the Kwame Nkrumah University Science and Technology (KNUST) from which it designed the fake certificates used by the nine junior staff to secure employment at SSNIT.

After the investigations by both SSNIT and EOCO,the employment of the nine, were terminated and they were put before court for prosecution.

Dr. Ofori-Tenkorang, also revealed that another employee managed to hacked into the database of a public university and succeed in altering the grades of some employees to make the grades look good, but was caught.

SSNIT, had earlier sacked its MIS Manager, Caleb Afaglo, who is said to possess fake degrees. He is currently in court over the US$72 million software saga together with Ernest Thompson and Juliet Hassana Kramer.

On investments, the Deputy Director Generals in-charge of Investments and Development, Kofi Bosompem OsafoMaafo, said that there has been improvement in Corporate Governance in subsidiary companies, and this has reduced non-performing assets.

The measures he said, had led to a declaration of dividend on investments, such as The Trust Hospital Company Limited in 2018, the first since its incorporation.

Mr Osafo-Maafo,  disclosed that Labadi Beach Hotel, has also paid dividend in 2017, compared with the loss recorded by the same company in 2016.

These according to the deputy SSNIT boss, were achieved through the appointment of professionals and experts to the boards of the subsidiary companies, which improved corporate governance.

The Deputy Director Generals in-charge of Investments and Development, further revealed that SSNIT’s investment in the Ghana Agro Food Co. Ltd. (GAFCO) which hadn’t seen profits in years, also recently witnessed some cash returns to the Trust, following a decision by the management to hand it over to some investors.

They painted good prospects for SSNIT in the years to come. They are expecting improved revenue mobilization and good returns on its investment ventures throughout the country.

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