[ 2021-02-18 ]

Dr John Ofori Tenkorang

Is SSNIT top job up for grabs?
After almost four years of superintending over the
affairs of the Social Security and National
Insurance Trust (SSNIT) as the Director-General of
the basic national pension scheme, the appointment
of Dr John Ofori-Tenkorang, has come to an end and
is now up for review.

Dr Ofori-Tenkorang took over the reins of SSNIT at
a time when the number of employers paying
contributions for their workers was around 54,000
and active contributors were reported at about
1.27 million.



The issue of ‘ghost names’ in the pension
payroll was pronounced, reportedly siphoning more
than GH¢400 million every year.

Its assets were a little over GH¢8.4 billion and
contributors’ statements were literally
delivered through postal services.

Current situation

Four years down the line, the SSNIT scheme has
added on to its laurels and now boasts assets in
excess of GH¢9.5 billion.



The Trust has substantially arrested the recurrent
‘ghost names’ menace, resulting in the
deletion of about 11,000 names and savings of more
than GH¢500 million.

Contributors’ statements are now distributed
electronically, helping them to keep track of
their contributions and promoting transparency.

The number of employers and contributors on the
scheme, which are key to its sustainability, have
also enjoyed tremendous growth.

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While employers with the basic pension scheme is
now around 65,000 institutions, the number of
contributors has risen to about 1.63 million,
increasing the base from which SSNIT collects and
grows its fund.

Stakeholders’ expectations



The Secretary General of the TUC, Dr Anthony Yaw
Baah, said in an interview that organised labour
had observed a marked improvement in the
operations of SSNIT under Dr Ofori-Tenkorang.

Premising his observations on some of the global
standards used to assess the viability of a
pension scheme, Dr Baah said key metrics such as
care for pensioners, cost of operation, the growth
trajectory of the number of contributors and
assets and the general image of the scheme had
improved, giving hope to labour that the Trust was
becoming increasingly resilient.

He said the DG had also developed and maintained a
cordial relationship with labour, partly resulting
in the relative calm on the labour front since his
taking up of the post four years ago.

Pensioners’ perspective

A former representative of the National Pensioners
Association (NPA) on the SSNIT Board of Trustees,
Mr Ben Asumang, said in a separate interview that
Dr Ofori-Tenkorang’s policies had impacted
positively on pensioners, citing the reduction in
the period leading to the payment of first
pensions from an average of 47 days to 13 days as
of December 2020 as one such initiative.

“He also ensured that government paid penalty on
delayed payment of contributions in accordance
with the National Pensions Act, 2008, Act 766.

“Before he came, government could delay for
about 10 years and nothing was done but now, when
there is a delay, the government is penalised,”
he said.

Mr Asumang explained that these helped to boost
the financial position of the Trust, partly
helping it to continue to pay pensioners their due
even in the heat of the COVID-19 pandemic.

Source - Graphic Online

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