Public Affairs Manager of the Social Security and National Insurance Trust (SSNIT), has encouraged formal sector workers to ensure that employers pay their full contributions to the Trust.
Charles Akwesi Garshong revealed that in cases where some workers receive allowances that are separate from their salaries, some employers contribute based on the employee’s actual salary.
“So it is up to you to ensure that your employer is paying contributions on your full earnings, because the higher the income on which contributions are paid, the better your pension”, he indicated on Wednesday.
Speaking on Prime Morning, he said the practice might look appealing to the worker but affect their pension payments in the long run.
“Because the employer is also looking at it that if I add it to your salaries, the responsibility I have by topping up the contribution you make will increase…”
“For employer-employee relationship this is what happens, workers pay a portion and employers will have to top up so if they declare that salary, they feel like oh why don’t I reduce it so that you have huge allowances, you feel you’re okay but at the end of the day he’s only avoiding his responsibilities”, Mr Garshong said.
Mr. Garshong advised individuals in the informal sector to also contribute to SSNIT because of its benefits.
He noted that self-employed persons who do not have fixed salaries can decide willingly on how much they can contribute and discuss with SSNIT, provided it meets the minimum amount.
Latest Stories
-
NDC lays former propaganda secretary to rest
6 mins -
Girls still face societal barriers in accessing fields in TVET, stakeholders say
31 mins -
Mpraeso MP dismisses Haruna Iddrisu’s appeal for independent NPP MPs to resign
40 mins -
GAWU urges government to raise farmgate cocoa prices to curb smuggling
42 mins -
Ghanaian students arrested over alleged transcript forgery make court appearance in US
43 mins -
It never happened – Owusu Bempah denies anointing Bawumia amid Wontumi’s claims
44 mins -
Stone blasting incident that killed 3 and injured 39 was accidental – Ministry
47 mins -
Don’t politicise galamsey fight – Akufo-Addo urges Ghanaians
53 mins -
US mulls capping Nvidia AI chips exports to some countries, Bloomberg News reports
54 mins -
Opoku-Agyemang promises establishment of Children’s Hospital under next NDC government
1 hour -
IES supports calls for merger of PURC and Energy Commission
1 hour -
Mahama urges chiefs to condemn political violence ahead of 2024 polls
1 hour -
About 120k tons of cocoa was smuggled from Ghana in 2022-2023, says COCOBOD CEO
1 hour -
Parenting conference equips Christian parents with tools for raising children of integrity
1 hour -
Parliament reconvenes at AICC today
1 hour