Social Security and National Insurance Trust (SSNIT) says the reduction of processing time for payments of benefits from 21 days to 17 days is an indication of progress at the institution.
“This is a remarkable improvement from 47 days in 2016, and 21 days in 2018, similarly old age lump sum is now 10 days and this is a major reduction for processing time from 37 days in 2016 and 11 days in 2018 and with regard to survivor’s lump sum, the average processing time is now 8 days and this is also a significant reduction from 25 days in 2016 and 9 days in 2018,” the Deputy Director-General in charge of operations and benefits, Lauretta Otchere explained.
“From this exercise, branches are to educate members and employers on the subjects and professionally handle all issues related to payments,” she added.
Speaking to Citi News at a three-day operations conference in Elmina, Lauretta Otchere explained that SSNIT is working hard to meet the prompt payment of benefits to clients.
“We are working assiduously to meet deadlines for payments of benefits,” she said.
She also indicated that SSNIT is putting plans in place to make sure that the post-payment request for recomputation is reduced to the barest minimum.
She also said SSNIT plans to expand coverage and mobilize more contribution adding that that is the only way to increase the pension fund reserve available for investment.
“It is only in doing so that we can increase the pension fund reserve” she added.
According to Madam Lauretta Otchere, effective monitoring of work products must be done on a daily basis.
“In other to ensure total compliance we have initiated an effective monitoring team to that. We must ensure that future generations benefit from the SSNIT scheme” Lauretta Otchere added.