Contributors to Social Security and National Insurance Trust (SSNIT) will no longer have to wait till they retire before they can claim their funds but can lay claims whenever they encounter life challenges under a future Nana Kwame Bediako’s New Force Movement government.
The leader of the New Force Movement believes the current arrangement operated by SSNIT does not ensure the present welfare of contributors when in need describing it as a “kill me first, build me later” policy.
Nana Kwame Bediako says his movement when voted to lead the nation will transform SSNIT into a National Insurance Fund.
Under the proposed National Insurance Fund, the leader of the Movement says contributors can claim their funds after five years of contributions. This he explains that contributors can lay claims on their funds to cater for life issues such as accommodation, health, and education.
“Currently, contributors of SSNIT have to pay and wait for 40 years to pension before they qualify for claims. Some will die halfway and it will never even be given to their children. Some will even see this but we have changed this. As from now, we will say that our policy is turning SSNIT into a Nation’s Insurance Fund,” Nana Kwame Bediako announced in a virtual manifesto launch on Sunday, September 1.
He added, “Ghanaians will now be eligible to claim for their health, education, and education. In the next five years, you can claim your SSNIT back. You can claim it in cash or you can invest in insurance.”
“When you have a major health issue like how you go to hospitals and people die first because maybe they don’t have the cash first. We are not going to let in the country be homeless and fall out on the street because they have no jobs. Your SSNIT fund is supposed to become that insurance that will get you the home,” he emphasized.
Although this campaign promise of the Nana Kwame Bediako promises immediate financial relief for contributors who encounter life situations, it raises the question of how the financial security of contributors can be ensured during retirement. In addition, it brings to question the issue of the sustainability of the fund should contributors begin to lay claims during their working years.
