Wrong addressing system continue to cost the Social Security and
National Insurance Trust (SSNIT), huge sums of monies that could have
been invested for good returns.
Dr. Prosper Ayisah, Takoradi Area Manager, revealed that in 2015 alone,
the Trust paid the Ghana Post GH¢240 million or Express Mailing System
to enable the Ghana Post distribute cards and other relevant documents
to clients under the scheme.
He said because most addresses were either wrong or non-existent,
officials of the EMS department had to do multiple roaming and searching
to locate clients, which contributed to the huge cost incurred.
Dr. Ayisah said the monies could have been invested in the money
markets, either through short or long term debentures to raise extra
monies for the scheme, which could increase pension amount.
The Takoradi Area Manager therefore called on clients of the Trust to give proper details particularly residential details.
Mr Laud Senanu, General Manager Operations of SSNIT, encouraged
employers to regularly submit the data of their employees to ensure a
secured pension.
He said establishments who may have difficulty in paying for employees
could visit any of the offices of the Trust and negotiate payment
modules.
The Operations Manager said establishments or employers must register
all employees saying, “The Social Security Law stipulates that within 30
days after commencement of business, employers must register with
SSNIT.”
Mr. Senanu said the registration involves taking the bio data of the
worker and issuing a social security card with a valid social security
number adding, every social security scheme depends on the bio and the
financial data of its members in its operations.
Periodically, he said compliance officers visit employers at their
premises to carry out inspection to enforce compliance of the law and
called on the media to help in the education.

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