{"id":105993,"date":"2015-04-07T15:50:45","date_gmt":"2015-04-07T15:50:45","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=105993"},"modified":"2015-04-07T15:53:24","modified_gmt":"2015-04-07T15:53:24","slug":"its-better-to-invest-in-livestock-than-in-ssnit-franklin-cudjoe","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=105993","title":{"rendered":"It\u2019s better to invest in livestock than in SSNIT \u2013 Franklin Cudjoe"},"content":{"rendered":"<p>The President of IMANI Ghana, Franklin Cudjoe is of the view that it would rather be beneficial to Ghanaians to invest in livestock rather that contribute to the Social Security and National Insurance Trust (SSNIT).<\/p>\n<p>[contextly_sidebar id=&#8221;BIEc132mDLwNT2cQfIPQsJytZSvL9zUG&#8221;]\u201cIn this country, if you put aside your GHC 50 that you contribute to SSNIT as an average contributor and you use it to buy livestock, I\u2019m sure it will be much more beneficial to you than to put it into that scheme,\u201d he said.<\/p>\n<p>SSNIT has denied media reports that the <a href=\"http:\/\/4cd.e16.myftpupload.com\/2015\/04\/07\/govt-doesnt-owe-us-ghc-8-billion-ssnit\/#sthash.L1Wl1K3t.dpbs\" target=\"_blank\"><span style=\"color: #666699;\"><strong>government owes it GHC 8 billion<\/strong><\/span><\/a> with the explanation that the government at every point in time owes the scheme but it pays, no matter how long it takes.<\/p>\n<p>The institution further dismissed reports that the 2008 Pensions Act was amended because the government was desperate to save the scheme from collapse following years of \u201cabuse by successive governments, who have treated the scheme in most cases, as a slush fund, which they resort to with careless abandon anytime the government of the day was cash strapped.\u201d<\/p>\n<p>Mr. Cudjoe who has over the years been criticizing the operations of SSNIT, lamented on the <strong>Citi Breakfast Show<\/strong>\u00a0over the financial management skills of SSNIT saying, Ghanaians are better off investing their funds elsewhere.<\/p>\n<p>\u201cI don\u2019t understand why somebody will tell you that the government owes them GHC 8 billion and another officer comes to tell you it\u2019s not GHC 8 billion but I can\u2019t give you the figure,\u201d he fumed.<\/p>\n<p>\u201cWould you therefore believe anything that institution tells you?\u201d he asked, adding that \u00a0he has nothing \u201cpersonal against SSNIT but all I am saying is that in far seeing countries such as Nigeria, pension reforms have given them a lot more.\u201d<\/p>\n<p>The IMANI boss observed that SSNIT does not respected its clientele and has not been able to give proper account of whatever investments they have made and \u201cwe are saddled with an institution that does not, does not give any credible statement to its own people.\u201d<\/p>\n<p>Cudjoe revealed that the government and SSNIT are back to \u201csquare one\u201d with the pension reforms they started.<\/p>\n<p>He questioned why \u201cSSNIT should be the same person now paying out sums to pensioners when that should be taken care of by the second tier and third tier corporate trust?\u201d<\/p>\n<p>He further expressed worry that SSNIT is able to get away with a lot of impropriates.<\/p>\n<p>&nbsp;<\/p>\n<p>By: Efua Idan Osam\/citifmonline.com\/Ghana<br \/>\n<a class=\"twitter-follow-button\" href=\"https:\/\/twitter.com\/osamidan\" data-show-count=\"false\">Follow @osamidan<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The President of IMANI Ghana, Franklin Cudjoe is of the view that it would rather be beneficial to Ghanaians to invest in livestock rather that contribute to the Social Security and National Insurance Trust (SSNIT). [contextly_sidebar id=&#8221;BIEc132mDLwNT2cQfIPQsJytZSvL9zUG&#8221;]\u201cIn this country, if you put aside your GHC 50 that you contribute to SSNIT as an average contributor [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":103302,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[43,38],"class_list":["post-105993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-foresight-medical-center","tag-palaver-newspaper"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/105993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=105993"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/105993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/103302"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=105993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=105993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=105993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}