Coronavirus: Mahama’s SSNIT token payment idea borne out of care for workers – Sam Yalley

A former CEO of the National Pensions Regulatory Authority (NPRA), Mr Sam Pee Yalley, has noted that a recent demand by former President John Dramani Mahama that the Social Security and National Insurance Trust (SSNIT) support contributors during this period of the coronavirus outbreak, indicates that the former Ghanaian leader has workers and pensioners at heart.

He said Mr Mahama was only fighting for workers as they deal with the effects of the COVID-19 pandemic.

Following Mr Mahama’s suggestion, however, SSNIT, in a press statement, said what the former President “is suggesting that we pay does not exist in law”.

“To do so, will constitute an illegality and a contravention of the provisions of the National Pensions Act, 2008, Act 766”, SSNIT added.

The state pension Trust further explained the conditions under which SSNIT can pay beneficiaries.

“The laws governing the SSNIT Scheme, the National Pensions Act, 2008, Act 766 (as amended), (sections 34, 70, 71, 72 and 73) categorically states the benefits and the conditions under which SSNIT can pay those benefits. These are: i. Superannuation Pension (Old Age Pension) ii. Invalidity Pension (when a worker becomes permanently incapacitated) iii. Old Age Lump Sum benefits (refund of contributions with interest) iv. Survivors’ Lump Sum benefits (to nominated dependents of a deceased contributor/pensioner)”.

SSNIT, as operator of the 1st-tier Basic National Social Security Scheme, also indicated its commitment to paying beneficiaries even though times are hard.

“That even though these are not normal times, the Trust remains committed to paying over GHS 213 million in monthly pensions to the 213,173 pensioners on the SSNIT payroll as well as honouring payments to all new pensioners that apply”.

But Speaking on the Ghana Kasa programmme on CTV, Mr Pee Yalley said: “Mr Mahama touched the never centre of SSNIT operations and, so, SSNIT should have rather been thankful to him”, adding: “What was Mr Mahama saying? Mr Mahama was fighting for the burden on SSNIT contributors to be reduced”.

Mr Yalley said: “As we all know, SSNIT has invested contributors’ funds in several projects and, so, what is wrong if Mahama asks them to support workers at this time?”