Some retirees under Second Tier receiving less than what is due them – Haruna Iddrisu

Minority Leader in Parliament, Haruna Iddrisu, has revealed that some retirees who are under the Second Tier pensions scheme are receiving less than what is due them at the moment.

He described this as a disturbing situation that must be addressed immediately.

The Second Tier is a defined contributory Occupational Pension Scheme mandatory for workers with 5% contribution made on behalf of members. The contribution is managed privately by approved Trustees.

Speaking on the New Day on TV3 with Johnnie Hughes on Tuesday January 25, the Tamale South Member of Parliament said the situation where pensioners receive lower than what they deserve is pushing them into their early graves.

“As a media practitioner take interest in pension . I am getting very disturbing reports that Ghanaians who have retired under Act 766 , the Second Tier pensions are receiving less than they would have earned if they were on their original pensions .

“This is information I have, accurate.

“ACT 766 , because we want to please Ghana Armed Forces , Ghana Police Service , Ghana Immigration Service , Ghana Prison Service , we need to review it.

“In 2015, I had to come to Parliament as Minister responsible for Pensions to amend the Pensions Act to give SSNIT some space of five years to prepare for the lump sum and other matters.

“I am worried about it because how much were you already earning that you are now earning less in pensions., you are retiring them to death.”

Recently, the Director-General of SSNIT, Dr. John Ofori-Tenkorang, called for broader consultations with government and labour unions on a potential increase of retirement age, from 60 to 65 years.

Dr. Ofori-Tenkorang said SSNIT said “After 75 years, we’ll continue to pay you until the good Lord calls you home. So in theory, SSNIT can be paying till you are 101 years. The liability that SSNIT takes on can increase enormously as long as people are living longer.”

He was of the view that advancement in medical technology is increasing the lifespan of people, adding “people are becoming health conscious and taking care of themselves and people are living longer”.

Regrading this call. Mr Iddrisu who is a former Minister of Employment and Labour Relations said “He has provoked a debate , I think we should look at it but just as .

“You must look at your longevity as a county, your age . In Ghana today, you people enjoy contract.”

Source: 3news

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