Dr Ofori-Tenkorang (middle), Director General of SSNIT in a pose with some students of UEW
Officials of the Social Security and National Insurance Trust (SSNIT) reached out to students of the University of Education Winneba (UEW) under its flagship ‘Infoshop’ programme over the weekend.
The programme, which was held under the theme, “SSNIT, Your Security for Tomorrow,” was organised in collaboration with the University Students Association of Ghana (USAG).
Infoshop, which was started in 2018, has so far covered about 6,000 students in seven tertiary institutions.
It’s aimed at educating tertiary students on the mandate of SSNIT, social economic impact of SSNIT investments, as well as benefits the Trust’s pension scheme.
The platform was also used to register some 500 students who participated in the seventh edition of the programme.
Addressing participants, the Director-General of SSNIT, Dr. John Ofori-Tenkorang said old age, invalidity and death are not far-fetched and that students must start preparing for them during their working lives.
“Old age is the time when reality hits you and you find that your major source of income is gone. Your children would have gone ahead to live their lives and your health begins to fail you,” he said.
He advised students, who are currently working to register with the scheme and start contributing early in order to ensure a secure future.
He explained that the computation of benefits for retirement is based on the period of contribution and the highest salary received.
Speaking on the socio-economic impact of SSNIT investment, the General Manager in charge of Investment, Samuel Twum, explained that contributions are invested in various sectors of economy to create employment and interest.
He added that “5.5 per cent is deducted from the monthly salaries of contributors and added to 13 per cent of workers’ basic salary to make 18.5 per cent out of which employers are to remit 13. 8 per cent.”
The Dean of the School of Creative Arts, Dr Patrique deGraft Yankson, who chaired the event, commended SSNIT for the initiative.
He said the programme would help debunk the misconceptions about the pension scheme.
By Issah Mohammed