Launch Of Pension Sensitization Program For Staff Of Korle Bu Teaching Hospital
As part of its mandate in ensuring that employees covered under the scheme are well informed on the details, benefits and responsibilities under the three (3) tier pension scheme, the HSOPS was invited to speak at the launch of a sensitization program for staff of Korle Bu Teaching Hospital organized by the Health Service Workers Union on the topic, “the role of the Health Sector Occupational Pension Scheme in the three (3) tier pension scheme and the responsibility of the employee’ which was held on 9th October 2019 at the Medical Lecture Hall of the Korle Bu Teaching Hospital.
The Health Sector Occupational Pension Scheme (HSOPS) was represented by its chairman Dr. Derek Amoateng who in his speech gave a brief back ground on the pension system in Ghana. He explained how pension was initially solely administered by SSNIT and was later segregated into 3 tiers by the enactment of the National Pensions Act, 2008 (Act 766). The Chairman in his presentation addressed each of the tiers under the Act namely; Mandatory Basic Pension Scheme, Mandatory Occupational Pension Scheme and the Voluntary Personal Pension Scheme.
Dr. Amoateng said, “It should be noted that the 3 tier pension scheme affords employees the opportunity to save up to 35% of their gross salaries toward their pension of which 13.5% goes to SSNIT, 5% to the Occupational Pension Scheme and up to 16.5% to the Voluntary Personal Pension Scheme all of which is tax free”.
On addressing the second tier scheme, Dr. Amoateng touched on the role of HSOPS, its current board of trustees’ and the structure of the scheme. He made it known that the scheme current administrators are Enterprise Trustees and it covers all public health sector workers including both permanent and IGF staff and that, contributions for permanent workers are paid directly by the Controller and Accountant Generals Department whiles those of IGF staff are paid by the facilities they work with.
He also mentioned the fact that as at end of June 2019, the scheme had a membership of over 110,000 and a total membership of 10,372 for IGF. He drew the audience attention to the fact that every enrolled member had a unique number starting ET2XXXXXXXXXX together with a membership certificate available online.
Dr. Amoateng reiterated the fact that, HSOPS is tasked to provide its members with a one-off lump sum payment after their retirement which could either be at their mandatory retirement age (60 years), voluntary retirement age (55years and above and 50 years and above for unemployed or self-employed), death, total incapacity (no age restriction), permanent emigration(for expatriates).
The Chairman’s concluding remarks centered on the Temporary Pensions fund Account (TPFA), which has been transferred to the scheme for the period 2010 to august 2016 and its accompanying provisional schedule which is undergoing validation for final update on member accounts. He also mentioned the various processes benefit claims go through before payments are made and how members can easily contact the scheme through its contacts available on the website and new office secretariat at the GRNMA, Korle Bu. He also spoke about how members could access their account statement through a platform called stable available on their website, www.hsopsghana.com and the USSD, *714*333#.
Opportunities were given to the HSWU members to ask questions after his presentation which were duly answered. This sensitization launch which was well attended had Mr. Franklin Owusu Ansah a board member of HSOPS, Miss Gifty Boateng the Administrative Manager of HSOPS office secretariat and representatives from Enterprise trustees also attending on behalf of HSOPS. Other speakers at the launch included representatives from SSNIT who also made presentations on the tier 1 pension scheme.