The Social Security and National Insurance Trust has paid lump sums to 4,864 pensioners who were affected by the amendment of the Pensions Act 883.
[contextly_sidebar id=”Wd5HKqC74K4lHaXr7wuNeviwb6eqAYt8″]“The payments represent any differences that accrued to the affected pensioners as a result of the new amendment and the subsequent re-computation of their benefits under PNDCL 247,” a statement signed by the Corporate Affairs Manager of SSNIT, Mrs. Victoria G. Abaidoo stated.
According to the company the bank accounts of the 4,864 pensioners have been credited with the amount due them.
“The Trust will also continue to pay their re-computed monthly pensions under PNDCL 247. Monthly pension payments from May 2015 will reflect the newly computed pensions for the affected pensioners,” the statement added.
SSNIT further assured that it will also process benefits (including lump sum payment of pensioners) to all members affected by the amendment, as and when they qualify.
Government has been accused of amending the SSNIT Act to cover its GH¢8million debt to the scheme.
The amendment is said to have reduced the minimum pension payable to a retiree from 50% to 37.5% of the average annual salary of the retiree’s best three years of his working life.
But SSNIT’s Director of Public Affairs, Eva Amegashie denied the report saying “the statement is absolutely untrue.”
She indicated that the amendment to the Act 766 was “to make those who were 50 years and above in 2010 better off because between 50 years and 60 years, they wouldn’t have accumulated enough funds to get enough lump sum from the second tier.”
According to her, so far, 400,000 contributors have been brought under Act 247 “so that they will be better off because they will be worse off under Act 766.”
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By: Godwin Akweiteh Allotey/citifmonline.com/Ghana