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SSNIT wants broader consultations with the government and labor on raising the pension age to 65 years.


 The Social Security and National Insurance Trust (SSNIT) needs more extensive discussions with government and trade guilds over a potential increment of retirement age, from 60 to 65 years.

With enormous liabilities on the accounting report of the Trust, the Director-General of SSNIT, Dr. John Ofori-Tenkorang, genuinely thinks that assessing the retirement age which is the training in the USA would facilitate the weight on the Trust, yet in addition increment commitments.

Dr. Ofori-Tenkorang said hit outfit pays annuities of commitments as old as 100 years, and in this way stretching out the retirement age to 65 years should be fundamentally checked out.

"Following 75 years, we'll keep on paying you until the great Lord calls you home. So in principle, SSNIT can be paying till you are 101 years. The obligation that SSNIT takes on can increment hugely insofar as individuals live longer."

He was of the view that progression in clinical innovation is expanding the life expectancy of individuals, adding "individuals are becoming wellbeing cognizant and dealing with themselves and individuals are living longer"."So the inquiry then, at that point, becomes, would it be a good idea for us we let individuals contribute somewhat more by bit by bit moving the retirement age. In different nations, in the US for instance, you don't get government-managed retirement until you are 65", the SSNIT supervisor insinuated.

He further expressed that "the topic of expanding the retirement age is something that we need to take a gander at. Also, this is the kind of thing that you do in the three-sided manner where government, businesses, and work plunk down and examine".

SSNIT expands beneficiaries' regularly scheduled installment by 10%

SSNIT in an interview with the National Pensions Regulatory Authority (NPRA) on Tuesday eleventh January 2022 reported an expansion in beneficiaries regularly scheduled installment by 10%. This will produce results from twentieth January 2022. According to a public statement given by SSNIT, all beneficiaries "will have their month-to-month benefits expanded by a decent pace of 9.68% in addition to a reallocated level measure of ¢3.44."

The most noteworthy procuring beneficiary as of 31st December, 2021 will get an installment of ¢142,564.97 consistently.

Beneficiaries getting a base annuity of ¢300 as of 31st December, 2021 will have their month to month benefits expanded to ¢332.48.

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