DR DUFFUOR INAUGURATES SSNIT BOARD
Dr. Kwabena Duffuor, Minister of Finance and Economic Planning has inaugurated the 13-member reconstituted Board of Directors of the Social Security and National Insurance Trust (SSNIT).
The Minister administered the oath of Secrecy and the Official oath. Present were Hon. Fifi Kwetey, Deputy Minister of Finance and Economic Planning and some officials of Ministry and SSNIT. The Board has Mr. Kwame Peprah, former Minister of Finance as chairman.
In his brief remarks the Minister said the current situation where only 10 per cent of working Ghanaians are covered under the scheme is woefully inadequate and called for measures to cover the remaining 90 per cent.
To this end, he said the informal sector drive which has been piloted since 2005 should be expanded to rope in more contributions from the sector where majority of the active working population are concentrated.
Dr Duffuor also tasked the Board to look at the issue of delays in the processing of benefits as well as delays in the payment of pensions.
“Some improvements have been observed in the payment of benefits following the automation of the benefits payment system, but there is room for improvement, particularly in the rural areas”.
The Minister also expressed concern about the management of the Trust’s investments and called for bold decisions to address the issue of non-performing assets and uncompleted projects.
“Exit strategies must be considered for the non-performing assets and issues surrounding uncompleted projects must be addressed and resolved in the shortest possible time. We expect to see a much better investment portfolio with enhanced yields”, he added.
Mr. Peprah expressed members’ appreciation to the President and the Minister for the confidence reposed in them and gave their assurance that they will discharge their duties diligently.
Other members are; Hon. Fifi Kwetey, Mrs. Satti Ocran, Mr. Peter K O Addo, Nana Fredua Agyeman Pambuo, Mr. Theodore K Gyau, Mr. Kofi Asamoah, Mr. A. T. D Okine, Mr. Rebertson Nii Akwei Allotey, Mr. Kwame Amo-Darko, Mr. Solomon Laryea Tawiah Yemoson, Mr. Jacob Hester Blood Dzraku and Mr. Kwesi Boateng.
END.
