Daily Graphic & Ghanaian Times 21-12-98

The lead headline story in the Graphic says: "Don't quit pension scheme...President tells teachers". The story says President Jerry Rawlings has appealed to teachers not to kick against the Social Security and National Insurance Trust (SSNIT) Pension Scheme which offers a more secure and flexible protection for the future. The Ghanaian Times which reports on the same issue, headlines its story "CAP 30 not secure... President explains benefit of SSNIT Scheme".

The Times story says The President Flt-Lt. Jerry John Rawlings has called for an informed and objective discussion of the pension scheme known as CAP 30 and the Social Security and National Insurance Trust (SSNIT) Pension Scheme. The paper says to ensure a clear understanding and well-informed discussion, President Rawlings has tasked the Ministry of Finance, SSNIT and other relevant bodies to spell out the facts in detail, keeping in mind the long-term interests of the individual and of the nation.

The Times says the two pension schemes have created a lot of anxiety among workers, particularly teachers, some of whom are leaving the teaching profession to avoid being put under the SSNIT Pension.

According to the paper, most of the teachers who are resigning say that they prefer the CAP 30 which currently yields substantial benefits. The Graphic says in an apparent reference to repots that some teachers are resigning in protest against the decision by the government to phase out the CAP 30 in favour of the SSNIT Pension Scheme. President Rawlings indicated that the old form of pension which most of the teachers prefer, does not, at present, yield substantial benefits.

President Rawlings is quoted as saying the CAP 30, apart from being non-contributory, is not self-sustaining and therefore, depends entirely on the government's ability to find money for its sustenance. "The likelihood of this system's benefits being enhanced in future is therefore slim", he is reported as saying. GRi