The Contribution of Social Security and National Insurance Trust (SSNIT) to the Economy of Ghana
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Date
1996-02-28
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Abstract
The aims and objectives of this work is to examine possible means of coverage so as to increase the number of contributors to the Social Security Pension Scheme. It is interesting to note that out of the possible work force of about Eight Million people, the social security and National Insurance Trust (hereafter referred to as the Trust”) has been able to cover just about six hundred and seventy thousand workers due to the fact that the earlier laws of 1965 and 1972 establishing the Social Security Scheme (here after referred to as “the Scheme”) limited compulsory coverage to establishments employing five or more workers unlike the recent PNDC Law 247 of 1991 which established the Social Security Pension Scheme (hereafter referred to as the Pension Scheme) whose coverage embodied establishments employing one worker or more to provide social protection for the working population for the following contingencies.
1. Old Age 2. Invalidity, 3.Death.
With the performance of the Trust in terms of investments in the students loan scheme, Housing delivery, Health care and a reasonable collection of contributions from employers. £t is a matter of course that the Trust would grow to become a financial giant if coverage in terms of contributors are increased and in this area, the corporate plan of the Trust is aimed at covering about 33% of the uncovered contributions by the year 1999. It is the aim of the researcher to suggest other possible means to achieve this object for the benefit of the socio-economic development of Ghana as a whole to reduce casualties like street begging, armed robbery, competition, social vices like child delinquency, teenage pregnancy, drug abuse etc., arising from irresponsible parenthood due to inadequate social protection in old age, invalidity and death.
Description
A thesis submitted to the Board of Postgraduate Studies, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfilment of the requirement for the award of Postgraduate Diploma in Industrial Management, 1996