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Any worker should afford a two-bedroom house when going on retirement – GNAT, as it calls for improvement in income levels

Any worker should afford a two-bedroom house when going on retirement – GNAT, as it calls for improvement in income levels

The overall income status of all employees in the nation should be examined, according to Thomas Musah, general secretary of the Ghana National Association of Teachers (GNAT).

He stated that the majority of workers make low basic salaries, which eventually has an impact on the amount of pension payments they receive when they retire.

He remarked, “It has become extremely vital that the concerns of income in this nation should be looked at,” during the GNAT Investment Forum on June 29 at the University of Ghana. With regard to the question of the basic pay, we cannot avoid it.

“For that reason, we are setting up this forum to examine what can be done to make sure that employees’ retirements go more smoothly.

There is one thing we have been requesting throughout the years: the worker should be able to buy a two-bedroom house when he retires, if for no other reason.

The Social Security and National Insurance Trust’s (SSNIT) Director General, Dr. John Ofori-Tenkorang, claimed the program is the greatest pension plan available to workers in his remarks at the same occasion.

He clarified that indexation has been done by the SSNIT administration to keep up with the increasing rate of inflation.

This is one of the reasons the program is excellent for workers, according to him.

Every year, SSNIT performs indexation, and the indexation keeps pace with inflation. Since SSNIT is aware of this, we account for inflation, he added.

“I’ll beg folks not to discard the baby with the dirty water. According to the story, SSNIT is bad, individuals conspired with their companies to avoid paying SSNIT, the SSNIT scheme is the greatest pension plan available anywhere else, and if you don’t join to contribute, you are doing yourself harm, he said.

He also said that the management will launch a campaign to inform the public about the importance of joining SSNIT.

Because joining SSNIT is the best thing individuals can do for themselves, he added, “we are going to put out a program to get people to come and join.”

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