Sustainability of the SSNIT Pension Scheme

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Most developed and under developed countries face increasing challenges to the sustainability of their public pension systems, which were created in an era when the life expectancy of retirees was "much shorter than today. In Ghana, these challenges are exacerbated by additional factors: Bad Investment, high mortality rate, bad economic factors, high administrative cost and a historically generous public pension system. In this dissertation, the factors affecting future sustainability of the SSNIT pension scheme is systematically analyzed. First, the development of the contributors population, inflows and outflows over the last ten (10) years is studied. The effects of (changes in) mortality coefficients of members will be considered. The study is designed to study «and forecast the effects of specific indicators on the scheme, changes regarding the investment income, total assets, total expenditure, transfer to households number of pensioners, contribution levels, coverage and compliance.
A thesis submitted to the Department of Mathematics in partial fulfilment of the requirements for the award of Msc. Industrial Mathematics, 2008