THE IMPORTANCE OF UNDERSTANDING SSNIT PENSION SCHEME FOR PUBLIC SECTOR WORKERS

By Edith Agyei Benkyi

Public-school, Madam Cecelia, emphasizes the significance of the Social Security and National Insurance Trust (SSNIT) pension scheme in securing her retirement. She highlights that SSNIT provides a safety net for workers, ensuring they receive financial support during retirement, invalidity, or death.

According to Madam Cecelia, she would have done an investment with a part of her salary if SSNIT wasn’t in existence because she wants to prepare adequately towards her retirement. She further explained how the SSNIT works saying that we have three tiers in SSNIT when it comes to Pension. The tier one and two being mandatory, whiles the tier three being voluntary. 

 Madam Cecelia says SSNIT is very transparent because after every three months, an alert is being sent to show the amount you have contributed to SSNIT so far. Also, she added that 5.5% is being deducted from her salary as a contribution to SSNIT but she’s not really sure of the percentage G.E.S contributes in her name to SSNIT. Is there a need for public sector workers to be educated on SSNIT pension scheme? 

She ended her speech by urging all SSNIT pension contributors to be transparent to their immediate family members about investments they’re making, so that after their deaths it wouldn’t be hard or difficult to claim.





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