SSNIT declares GH¢512 million in savings since 2017

Ofori Tenkorang Ssnit Boss Dr John Ofori Tenkorang, Director-General of SSNIT

Thu, 11 Feb 2021 Source: www.ghanaweb.com

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: www.ghanaweb.com
Related Articles: