Some SSNIT members prioritise personal interests over scheme’s goals – Abdallah Mashud

The Executive Director of the Africa Center for Retirement Research, Abdallah Mashud, believes some officials of the Social Security and National Insurance Trust (SSNIT) appear not to be focused on the larger goal of the organisation.

His comment follows the Social Security and National Insurance Trust’s (SSNIT) decision to sell a 60% stake in four of its hotels to Rock City Hotel, owned by Bryan Acheampong, Ghana’s Minister for Food and Agriculture, and a New Patriotic Party (NPP) Member of Parliament for Abetifi Constituency.

In his view, this situation would likely prompt a call for a pension report in other jurisdictions.

North Tongu MP, Samuel Okudzeto Ablakwa, who led a protest against the deal on Tuesday, June 18, already has a petition before the Commission for Human Rights and Administrative Justice (CHRAJ) demanding a probe into the transaction.

The NDC MP stated that the protest aims to compel the president to prevent the sale of these hotels.

Speaking on the JoyNews AM show, Mr Mashud stated that “in all these, we have had those who are representing us keep very mute; we have gotten to a point where all of us must be interested in our social security.”

He also praised Samuel Okudzeto Ablakwa for initiating a national conversation on the matter. Mr Mashud expressed concern that the nation seems to be making little progress in this crucial area of human development, specifically pensions.

“All of that is feeding into this type of activity. A larger part of the Ghanaian retirees are receiving benefits that are lower than what they would have been paid under the old law. Meanwhile, we have had pension reforms in 2010, but activities like these are accounting for low benefits,” he noted.