Insurance Agents appeal to join SSNIT scheme

Kumasi, March 26, GNA - Some Commission Agents of Insurance Companies in the Kumasi metropolis on Wednesday said they should be allowed to contribute to the Social Security and National Insurance Trust (SSNIT) scheme to enable them enjoy retirement benefits in future. They appealed to the National Insurance Commission (NIC) to review the insurance laws in the country to ensure that Commission Agents contributed to the SNNIT scheme.

They also called on the National Labour Commission, the Ministry of Youth and Employment and SSNIT to discuss the issue and come out with modalities to allow the Agents to contribute to the scheme to secure their future. Under the current Insurance Law, 10 per cent tax is deducted from the commission of Agents but they do not contribute to SSNIT as they are considered not to be part of the permanent staff of the Insurance Companies.

Mr Jackson Amankwaa, Secretary of the Quality Insurance Company Agency Association, told the Ghana News Agency in an interview that SNNIT contributions would enable the Agents to have comfortable retirement benefits. He said their numbers were increasing daily as a result of the growth of the insurance industry and that Agency business had been the only source of income for many of them. Mr. Amankwaa suggested that since a percentage of their commission was deducted as tax to the government, the same could be done to SSNIT. He said insurance Agency had become an indispensable part in the insurance industry and the Agents needed to be supported to benefit from all facilities provided by SSNIT to pensioners. Mr Amankwaa said Agency work should be seen as a major player in the insurance business, which was playing a leading role in the financial sector of the national economy.