Haruna Iddrisu, the Minority Leader in Parliament, requests a recommendation on retirement age from Dr. John Ofori-Tenkorang, Director-General of the Social Security and National Insurance Trust (SSNIT).
Dr. Ofori-Tenkorang, he said, has sparked a debate with this suggestion, which all parties must consider.
On a prospective hike in the retirement age from 60 to 65 years, the SSNIT chairman has urged for further consultations with the government and labor organizations.
"After 75 years, we'll continue to pay you till the good Lord brings you home," Dr. Ofori-Tenkorang stated. In principle, SSNIT may pay you until you're 101 years old. As long as individuals live longer, the obligation that SSNIT assumes will grow dramatically."
He believes that advances in medical science are extending people's lives, adding that "people are becoming more health conscious and taking care of themselves, and they are living longer."
Mr Iddrisu, a former Minister of Employment and Labour Relations, stated on TV3's New Day broadcast on Tuesday, January 25, "He has provoked a debate, I think we should look at it but just as.
"You must consider your county's duration, as well as your age. You folks have contracts in Ghana today."
He also stated that certain pensioners on the Second Tier pensions system are currently receiving less than they are entitled to.
He viewed it as a troubling scenario that needed to be addressed right now.
The Second Tier is an obligatory defined contribution Occupational Pension Scheme for workers, with a 5% contribution made on their behalf. The contribution is administered privately by Trustees who have been authorised.
Mr Iddrisu believes that the current situation, in which pensioners receive less than they deserve, is forcing them to die young.
"As a media professional, I am concerned about retirement. I'm hearing alarming allegations that Ghanaians who retired under Act 766, the Second Tier pensions, are collecting less money than they would have gotten 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.”
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