The Social Security and National Insurance Trust, is an agency of the government of
Ghana
Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and To ...
. Its job description, according to it
website is to administrate the National
Pension
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...
Scheme. In so doing, the trust owns major amounts of
stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
in Ghana's principal companies.
Investments
Stock Portfolio
For example, the trust owns:
* 10% of
Accra Brewery Company Limited* 25% of
Aluworks
Aluworks is a manufacturing company based in Tema, Greater Accra. It was founded on February 24, 1978 and was converted to a public limited liability company on May 28, 1996. After an Initial Public Offer in October 1996, it was listed on the Gh ...
* 30% of
Ghana Commercial Bank
GCB Bank Limited formally known as ''Ghana Commercial Bank'' is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits. In August 2017, the Bank of Ghana, the nation's cen ...
* 20% of
Home Finance Company, HFC Bankand
* 20% of
SG-SSB
Societe Generale Ghana Limited (SG) is a bank that is based in Ghana, previously known as ''Société Générale - Social Security Bank'' (SG-SSB). The bank is part of the Société Générale banking group. The bank is based in Accra and its ...
(SG Social Security Bank
* 10% of
Africa World Airlines
Africa World Airlines Limited (AWA) is a Ghanaian airline company that was incorporated in 2010 and commenced flights in 2012. It has its head office in Airport City Accra, and its main hub at Kotoka International Airport in Accra.
It is the ...
;
* 40% of
West Hills Mall
The West Hills Mall is a shopping centre located at Dukonah, near Weija along the Accra – Cape Coast Highway in the Greater Accra Region of Ghana
Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West ...
.
End of lump sum payment
From 1 January 2020 all workers who attain the age of 60 years would not receive the lump sum payment anymore as was stated in PNDC Law 247. The lump sum payments had been transferred to the second tier fund managers.
References
External links
Social Security and National Insurance Trust websiteIndex of Ghana company PDFs from Gold Coast Securities
1965 establishments in Ghana
Financial services in Ghana
Ministries and Agencies of State of Ghana
Government agencies established in 1965
Pension funds
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