PUBLIC SECTOR WORKER ADVOCATES FOR SSNIT REFORM

 By Mavis Ewoenam Ahianyo


Mr. Victorway Kuvodu, a seasoned administrator and human resource management expert with 21 years of experience in the public service, shares his thoughts on the Social Security and National Insurance Trust (SSNIT) pension scheme. He notes that about 2% of his salary goes to SSNIT, which is lower than the actual 13.5% contribution rate for Tier 1, suggesting a possible discrepancy in his specific situation.


Mr. Kuvodu acknowledges the pension schemes are good but expresses concerns about the benefits during one's working life. He attributes the lower contributions to lower public sector wages. When asked about desired changes under SSNIT, Mr. Kuvodu emphasizes the need for loan availability to support business ventures, rather than waiting until age 60 to access funds that may not be sufficient for sustenance.


Mr. Kuvodu's suggestions highlight the need for SSNIT to adapt to the evolving needs of its contributors. Some potential reforms could include allowing contributors to access funds for business ventures or other purposes before retirement and ensuring contributors are aware of their contribution rates, benefits, and any changes to the scheme.
By addressing these concerns, SSNIT can better serve its contributors and provide a more comprehensive social security net for Ghana's workers.


Mr. Kuvodu went ahead that, public sector wages are lower so they therefore contribute lower. asked about the changes he would like to see under SSNIT, Mr. KUVODU says "I would be happy if there are availability of loans to do any other form of businesses and not wait till 60 years before getting one’s money and later realizing the amount cannot sustain him".


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