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Business & Finance | Jun 21, 2004

Gov’t To Introduce New Pension Scheme

Ghaianain Voice

The president, John Agyekum is in consultation with the Social Security and National Insurance Trust (SSNIT) for a new pension scheme that will adequately cater for the teachers and civil servants through out the country.

The new pension is to introduce a two to three bedroom house for teachers who are due for retirement as well as a lump sum of SSNIT. Information indicates that it will be cumbersome if not impossible for government to reintroduce the Cap 30, which previous government abolished long ago.

And because the government acknowledges the work teachers and civil servants offer the country, it is in serious tête-à-tête with the authorities of SSNIT to provide better conditions for those retiring.

According to sources, the reason why Cap 30 is not feasible in the country presently is because the national cake cannot support its reintroduction nor sustain its implementation