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01.12.2005 Business & Finance

SSNIT exceeds target for Eastern and Volta Regions

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Koforidua, Dec. 1, GNA - The Koforidua Area Branch of the Social Security and National Insurance Trust (SSNIT) comprising the Eastern and Volta Regions collected 27. 3 billion cedis as contributions this year. The amount exceeded the target of 25. 8 billion cedis projected for the year by six per cent.

Mr. Kwasi Osei, Director General of SSNIT, announced this at the first Eastern Regional Institutional Awards ceremony and the 40th anniversary celebration of SSNIT in the Eastern Region at Koforidua on Wednesday.

Seven institutions that received awards were; Ghana Oil Palm Development Company, Kade, Intravenous Infusion Limited, Koforidua, Equatorial Capital Ventures Limited, Ho, the Afram Plains Development Organisation, Anum Rural Bank, Madonna International School, Koforidua and the SOS Children's Village at Asiakwa. Twenty others including the Cocoa Research Institute of Ghana at Akim New Tafo and the Volta River Estates, received commendation for good employer status.

Mr. Osei said despite difficulties encountered by many employers, performance of the Koforidua Area of SSNIT was commendable. He said in response to concerns raised by pensioners about the delays in receiving their pensions, the Trust recently automated the processing of pensions and using electronic transfers to shorten the period that pensioners received their pensions in their accounts. Mr. Osei gave the assurance that SSNIT would continue to review its activities to make its operations more customer-friendly. Mr. Thomas L. Agawu, General Manager in-charge of Operations, said some employers who did not comply with the Social Security Law had been jailed but did not elaborate. He said selection for honours were based on several factors including the quantum of monthly contributions, regularity and prompt payment of contributions, submission of accurate data and granting of access to SSNIT officials to educate and resolve problems of their employees.

Mrs. Maame Ekua Amoah, Area Manager, said the management of SSNIT had planned other regional awards as part of its 40th anniversary celebrations.