[ 2021-02-11 ]

SSNIT declares GH¢512 million in savings since 2017
Director General of the Social Security and
National Insurance Trust (SSNIT), Dr John
Ofori-Tenkorang has disclosed that the national
pensions outfit has made a total savings of
GH¢512 million since 2017.

The Trust explained that the accrued amount was a
result of measures such as internal controls
instituted over the years.

Addressing journalists following a handing over
ceremony of vehicles to the National Pensioners
Association, Dr Ofori Tenkorang reiterated
SSNIT’s commitment to make good use of funds
from contributors.

“To meet these obligations, we will continue to
adopt innovative ways to grow the fund and carry
out further cost-cutting measures. Already, we
have made a total of over GH¢512 million since
2017,” he revealed.

“They include GH¢246 million savings on legacy
investment transactions, net savings of over
GH¢121 million on ICT support fees over the
period. This was achieved through annual savings
of US$4,456,038.22 and GH¢4,910,748. These
savings will ultimately strengthen the scheme and
contribute to its long-term sustainability,” the
SSNIT Director General explained.

SSNIT has also assured pensioners under its scheme
of further support and committment.

Source - SSNIT

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