14.06.2004 General News

Lecturer favours CAP 30

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LEGON June 14, GNA - A Senior Lecturer of the Department of Psychology of the University of Ghana, Legon, Dr. Robert Akuamoah Boateng said at the weekend that the "Cap 30" and the Ghana University Supernnuation Scheme (GUSS) paid better pension than he Social Security and National Insurance (SSNIT) pension.

Dr. Akumoah Boateng was speaking at Legon on a topic, "How to prepare for Pension or Reirement" at a meeting organized by the "Legon Akan Biakoye Kuo," a benevolent society and the Legon Staff Village Residents Association.

Dr. Akuamoah Boateng took to the blackboard and calculated the various pensions schemes and therefore concluded that, the CAP 30 and the GUSS pension schemes, which use workers' terminal salary to calculate the pension entitlements were far better than the SSNIT Penion, which uses the last three years of ones best contributions for similar calculations.

He added that if two persons should be contributing towards their retirement and one opted for SSNIT and the other opted for GUSS and both may have served the same years and on the same rank, the GUSS contributor will receive a better pension than the SSNIT contributor.

The Senior Lecturer called on the workers of the University of Ghana to start preparing towards their pension, while at work.

Dr. Akuamoah Boateng reminded the University workers to remember to get a place where they may lay their heads when they should go on retirement and therefore appealed to them to invest the little that they earn in treasure bills, shares and in the non-banking financial institutions.

He also asked pensioners to take good care of their lives by exercising more frequently and go to medical check-up once a year to know their state of fitness.

He warned pensioners to refrain from eating fatty meals and drinking excessively 14 June 04

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