The FUTURE PENSIONERS CLUB wishes to add our voice to the issues of the moment in relation to Social Security and National Insurance Trust (SSNIT) involvement in the financial transactions of Merchant Bank and all other institutions in which our interest as SSNIT contributors is.
As SSNIT contributors who would one day proceed on retirement, we have interest in what our investment in our future is used for in order to ensure that when the time comes for us to proceed on compulsory or voluntary retirement, we are sure of getting our gratuity.
We are aware of the need for SSNIT to ensure that enough monies are generated to pay the pensions of our hard working class when they embark on either compulsory or voluntary retirement.
We are also aware that in so doing, SSNIT had invested in Merchant Bank in order to guarantee constant return on investment year-on-year. This could not be said to be bad and we the FUTURE PENSIONERS CLUB believe such investments are necessary to keep the trust running.
We are again aware that SSNIT has withdrawn its share in Merchant Bank and have decided to sell their portion of the shares to FORTIZ EQUITY FUND. We are reliably informed that the bank�s performance is dwindling as a result of its financial challenges.
We are also informed of huge sums of loans granted some private companies which were supposed to be paid back over a period of time have still not been paid.
As contributors into a fund which must secure our future gratuity when we finally go on retirement, we demand full disclosure of the names of the individuals and private firms owing SSNIT through the loans they secured from Merchant Bank. We demand the list of debtors standing in the books of Merchant Bank be made public for us to know.
We also want to state emphatically that our contributions cannot be wasted through loans that have been allowed to go bad. We want the management of SSNIT and Merchant bank to put in place a comprehensive plan to recover 100 percent of the outstanding loans in their books and to make public such steps put in place.
We are empowered as a group and as citizens of Ghana by article 1(1) of the Constitution, 1992 which states that "the Sovereignty of Ghana resides in the people of Ghana in whose name and for whose welfare the powers of government are to be exercised..." Per this article , SSNIT is under an obligation to ensure that its powers are exercised for the welfare of the people of Ghana."
Any unreasonable excuses for which these cogent steps cannot be instituted shall incur legal consequences.
Long live Future Pensioners Club.
Long live Ghana.
Samira Seidu (0240125990)
Ayishetu Alhassan (0244907931)
Isaac Kingsley Edzii. (0244877942)
Stephen Kwabena Attuh (0233718353)
Adomako Fred Williams(0509416315)
Abdulai A. Waris (0244907931)
Michell Adotey (0546626257)
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