How To Take Loan From SSNIT As Student (2023)
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Can you take a loan from SSNIT as student?

By Ellen White
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SSNIT hasn’t given new students the chance to apply for a student loan since the 2006–2007 academic year. The organization now in charge of taking on this duty is the Student Loan Trust Fund.
You must be a Ghanaian and have received an admissions offer in order to enroll in a recognized tertiary program in Ghana. A valid Ghana Card Number is required (can be acquired at designated GRA offices for free).
You must have a student ID card or admission letter and be enrolled in a postsecondary program, such as a diploma or first degree.

SSNIT Workers’ Salary In Ghana

The following is a pay scale for SSNIT employees in Ghana. An SSNIT employee in Ghana typically earns about 3000 GHS per month.

The monthly salary includes housing, transportation, and other benefits. The journalist’s location, gender, experience, and skills all have an impact on their pay.

How many hours do SSNIT workers work?

An average full-time journalist works 40 hours per week. A journalist’s work is unpredictable and has no set hours.

You should always be ready because the employer has the right to call you in for work at any time.

It is imperative to reiterate that journalists are paid in accordance with two factors. The previously mentioned standards form the foundation of the single spine salary structure, which was introduced a few years ago.

Additionally, employees in the SSNIT who have more education are paid more than those who do not.

 

Act 766 stipulates that the employer must contribute 13.5% of the 18.5% to the First-Tier Basic Social Security Scheme-SSNIT within 14 days of the following month.
To assist in paying the member’s medical expenses, 2.5% of the 13.5% with SSNIT is paid to the National Health Insurance (NHIS).
The Social Security and National Insurance Trust is in charge of managing Ghana’s Basic National Social Security Scheme at the moment (SSNIT).
Its mandate is focused on the first tier of the three-tier pension system. The primary responsibility of SSNIT is to partially replace lost wages for Ghanaian employees.
If you’re a contract worker, a casual worker, or if you’re on probation, your employer must make contributions to your SSNIT account.
Payments for the first two are necessary, but the third is optional. The first two tiers are 5.5% the employee’s responsibility and 13% the employer’s.
Payments cease upon the death of the pension recipient. A pensioner’s monthly pension payments will be converted into a lump sum and distributed to their beneficiaries in accordance with PNDCL 247 if they pass away before turning 72.
There are four (4) types of benefits under the SSNIT scheme that members can enjoy depending on which contingency has occurred.
  • Superannuation Pension/Old Age Pension
  • Invalidity Pension
  • Survivor’s Lump sum
  • Emigration benefit
On behalf of the employees, consistently contribute to the SSNIT. Subtract 5.5% of the employee’s monthly pay, then add 13% of their basic pay to get 18.5% of their take-home pay. The employer shall transfer 13.5% of the 18.5% to the trust within the first two weeks of the next month.
The Employee’s Responsibilities For the duration of their working lives, Ghanaian employees must pay into the Social Security and National Insurance Trust (SSNIT) system in order to be eligible for a monthly pension when they retire or become disabled.
The survivor’s benefit will be paid in cash to the person who was designated to receive it in the event of the contributor’s death.
The vast majority of the nation’s tertiary institutions, also known as postsecondary institutions, have encouraged students to register with the Social Security and National Insurance Trust (SSNIT) and pay into the pension system.
This is to guarantee that you will have a reliable source of income in retirement; starting earlier in life will be very beneficial.
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