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01.05.2019 Business & Finance

ICU Advise Workers Not To Sit And Watch People Toil With Their Pension

By News Desk
ICU Advise Workers Not To Sit And Watch People Toil With Their Pension
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“We are looking at these investments that are managed by SSNIT and the fund managers on the second tier. How relevant are our figures accumulating? As of now, we are coming to this May Day celebration to actually wake up workers. Let them think through and ask themselves; are we to take bigger allowances and leave our base pay to dwindle.”

Tthe General Secretary of ICU, Solomon Kotei said workers must not wait till they go on pension before they take keen interest in their benefits.

The Industrial and Commercial Workers Union (ICU) is asking workers to get more interested in issues bordering on their pensions as active employees.

The Social Security and National Insurance Trust (SSNIT) recently increased the benefits of pensioners by 11 percent. However, a committee of the Trade Unions Congress identified gaps in SSNIT's computation of pension benefits for contributors.

The committee reported that SSNIT misinterpreted what constitutes annual salary and early retirement reduction on lump sum which ultimately affect contributors’ benefits. Government in response indicated that it has started consultations in a bid to address this concern.