This was revealed at a stakeholder engagement forum between the leadership of the Trades Union Congress (TUC) and Ghana’s Social Security and National Insurance Trust (SSNIT).
The trend, according to SSNIT, accounts for the meager pensions public sector workers receive upon retirement.
“We need an overhaul of public sector wages and we need it now. It appears that over 80% of us retire with peanuts as our pensions. Many of our colleagues who have retired are either dead or in abject poverty. This can’t go on and that’s the reason why we are welcoming SSNIT’s engagement with us”, Deputy General Secretary of the TUC, Joshua Ansah, told Joy Business.
Meanwhile, SSNIT has also called for a consolidation of salaries and allowances of public sector workers to complement meaningful pension payments.
According to the General Manager of Operations, Kingsley Adjei Manu, such a merger will not only formalise pensions and deepen penetration but also leave pensioners better off – per international standards.
“Merging both salaries and allowances is important because we have realised that salaries are meager as compared to allowances. A consolidation will make up for this deficit and in turn increase the returns to these public sector workers,” he stated,
This engagement forms part of SSNIT’s strategic plan to deepen public knowledge on pension contributions.
