SSNIT pays 4,864 pensioners lump sums

The Social Security and National Insurance Trust (SSNIT) has paid the lump sums of the 4,864 pensioners who were affected by the National Pensions (Amendment Act) Act 883.

The payments represented any differences that accrued to the affected pensioners as a result of their benefits under PNDC Law 247.

According to the Trust, “The bank accounts of the 4,864 pensioners have been credited with the amount due them”.

“The Trust will also continue to pay their re-computed monthly pensions under PNDCL Law 247”, it said, adding that “monthly pension payments from May 2015 will reflect the newly computed pensions for the affected pensioners.

Subsequently, SSNIT has given an assurance that it will also process the benefits (including lump sum payment for pensioners) of all members affected by the amendment as and when they qualify.

Following workers agitations, the Minister of Employment and Labour Relations, Mr Haruna Iddrisu, asked SSNIT to expedite action on the processing of the benefits of pensioners and to ensure that none of them was disadvantaged.

This caused SSNIT to fast-track the process it had already begun to ensure that what was due the pensioners under the amended law was paid.

SSNIT posted a public notice a few days ago that it had begun the process of paying pensioners and contributors who had been affected by Act 883 any differences arising out of the recomputed benefits.

That followed the assurances given to SSNIT by the National Pensions Regulatory Authority (NPRA) to refund the five per cent contributions paid to the second tier scheme by the contributors.

SSNIT categorised the beneficiaries into two broad groups, namely: SSNIT pensioners who are already receiving their pensions under Act 766 and SSNIT pensioners whose claims are currently being processed.

The move was intended, among other things, to bring to rest the agitations from beneficiaries who were enraged by the amount of monies they were receiving as pensioners.

According to a public notice posted by SSNIT, “The affected SSNIT pensioners need not apply for this difference: SSNIT shall, where applicable, undertake the following: recompute their pensions under PNDC Law 247, pay any difference into their bank accounts, on payment, notify them by SMS and finally issue them with payment advice that can be obtained from any SSNIT branch.”

It further stated that members who qualified for pension payment under the amendment but were yet to lodge their claim would also have their benefits computed and paid under PNDC Law 247 as and when they applied.

SSNIT gave an assurance to all affected SSNIT pensioners that it was committed to ensuring a swift implementation of the amendment.

Source : graphic online