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Momodou
Denmark
11828 Posts |
 Posted - 28 Jan 2011 : 17:12:39
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We Have an Open Door Policy – SSHFC MD
By Binta A Bah
Friday, January 28, 2011
The Social Security and Housing Finance Corporation (SSHFC) Thursday 27 January2011 held a one day sensitisation workshop on SSHFC schemes for the media at the corporation’s headquarters. This is the beginning of a series of workshops to be embarked upon by the corporation to keep the general public better informed of the various schemes on offer.
Declaring the workshop open, the newly reinstated managing director, Mr. Tumbul Danso, epitomised the relationship between his institution and the media as symbiotic in nature. “If anything we need the press in our information dissemination campaigns. Currently we are engaged in three housing projects, the Tujereng, Jabang and Brikama Jamisa projects. We have an open door policy and so the public is always encouraged to meet us and raise their concerns,” Mr. Danso told the gathering.
According to the managing director, SSHFC was established in 1982 by an Act of Parliament with housing and social security fund components. The social security fund comprises three schemes, the National Provident Fund (NPF), the Federated Pension Scheme (FPS) and the Industrial Injuries Compensation Fund (IICF).
Deliberating on the success story of the corporation since its inception, Mr. Danso said that going by the past budget speeches, the institution has made over Ninety-seven million dalasis surplus qualifying them for a three month bonus payment as this is paid based on good performance. As a result the corporation was promoted from a third to a first class institution. “People from other countries have been coming here to learn from our experience. If other countries can do it, we can do it too,” Mr. Danso concluded.
The Federated Pension Scheme, according to Raymond Njie, senior public relations manager, took off the ground in 1983. He said this scheme until recently is only meant for Parastatals institutions such as the Gambia Ports Authority(GPA) and Gambia Telecommunications Company(GAMTEL) whereas the National Provident Fund(NPF) only affects private institutions. Sonko Jileng, a private business institution has however now opted for the latter. The main differences between the two are that employers are the only contributors of 15 percent of the employee’s salary to the scheme as opposed to the National Provident Fund where both the employer and employee make a monthly contribution of 15 and 5 percent respectively of the employee’s salary.
The public relations manager of SSHFC, Mr Ebrima Dampha in giving an overview of the significance of the IICF expressed his disappointment with employers who fail to register with the fund. “It is as simple as coming to our office, pick up a form and fill and send it back to us. We go and meet employers in their offices only to tell us that they would get back to us, a promise they would invariably not keep,” Daphna said. He said the timely reporting of accidents cannot be overemphasized. He said such accidents do not only include those that happen during working hours but also any accident that occurs two hours before or two hours after work.
Presenting a paper on the housing fund, the estate manager, Alhagie Fatty, traced the origin of the fund to the coming into being of the Bakoteh Housing Estate. “Contrary to public perception we are what we are today thanks to the funds we were able to accrue from the Bakoteh project and our partnership with Shelter Afric based in Kenya.” He said the Kanifing Estate was the first project conceived by the housing fund but unlike the Bakoteh project the Kanifing, Brusubi and subsequent projects are site and service infrastructural development oriented.
The occasion was chaired by Mr. Sulayman Nyass, assistant public relations manager, who also gave the closing remarks while Momodou Edrissa Njie from the News and Report Magazine gave the vote of thanks.
Source: Daily News
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A clear conscience fears no accusation - proverb from Sierra Leone |
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Momodou
Denmark
11828 Posts |
Posted - 28 Jan 2011 : 17:15:13
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The amount amount in red has been varified!
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SSHFC sensitises media on Federated Pension Fund, others
By Amadou Jallow
Friday, January 28, 2011
The Social Security and Housing Finance Corporation (SSHFC) Thursday convened a one-day sensitisation for the print and electronic media on the Corporation's schemes.
The session, which was held at the SSHFC boardroom in Banjul, was meant to create awareness, enhance compliance and inform the media on the new and existing rules and regulations that govern the schemes. During the session, the media practitioners were exposed to the Corporation's Federated Pension Fund, National Provident Fund, the Industrial Injuries Compensation Fund and the Housing Finance Fund.
In his opening remarks, Tumbul Danso, managing director of SSHFC said the institution is mandated by government and an Act of Parliament to provide social security to the people. He added that the Corporation operates on two main areas, which are social security and housing. He described the relationship between the Corporation and the media as symbiotic and said it should be used efficiently for the mutual benefit of both sides. "We want to practice an open-door policy for the media," he assured.
MD Danso further told journalists that SSHFC is currently implementing three major housing projects. He disclosed that the projects are Tujereng, Jabang and Brikama Jamisa housing projects. He said that in terms of corporate governance, the SSHFC still continue to manage well with over D70,000 D97,000,000.00 surplus over the years. The SSHFC MD further expatiated on the activities of the Corporation, making reference to its recent promotion by the government from a category three institution to a category one institution. This, he said, shows that SSHFC is on the right path. He finally thanked the media for responding to their call and assured them of the Corporation’s continued cooperation with them at all times.
Federated Pension Fund
Presenting SSHFC's Federated Pension Fund, Raymond Njai, senior public relations manager of the Corporation said the scheme was created to provide social security protection to workers in quasi-government organisations. He recalled that the founding member institutions of SSHFC initially ran their individual schemes until 1973, when they were federated and administered by SSHFC.
He explained that the Pension Fund is one of the constituent funds of the SSHFC, saying: "It is a final pay scheme in the sense that it pays benefits based on age, length of qualifying service and final salary as at the date of retirement from service or on the date of death of the member."
Njai further explained that membership and registration in the Pension Fund is for employees in fulltime employment in an organisation registered and recognised as a member institution that are qualified for the pension scheme and parastatal organisations that are established by an Act of Parliament from the bulk of the pension scheme.
National Provident Fund
Njai also disclosed that the National Provident Fund was also established by an Act of Parliament in 1981 and applies to businesses registrable under the Business Registration Act of 1973. He said the scheme is applicable for employees and employers, with normal retirement benefits. He explained that the Fund includes a 100% contribution by the employee plus 5% contribution from salary plus interest rate based on investment returns. "Payments are made based on age," he added. He further explained that invalidity benefits are payable as a result of ill-health while survivors benefits are paid to nominees of the deceased member who should write a letter of claim, providing facts of the death.
Industrial Injuries Compensation,Housing Finance Fund
The SSHFC public relations manager, Ebrima Dampha and Alhagie Fatty, public relations manager and the estates manager of SSHFC while making presentations on the Industrial Injuries Compensation and Housing Finance Fund respectively, praised the efforts of the media in the dissemination of information.
Dampha told journalists that the Industrial Injuries Compensation Fund was passed into law in June 1990 and was launched in 1996, replacing the Workman's Compensation Act of 1940, which had some deficiencies. He revealed that the current Industrial Injuries Compensation Fund is manned by five institutions. He said the institutions are the SSHFC, the Labour Department, Medical and Health Department as well as the Social Welfare Department and the Industrial Tribunal.
Alhagie Fatty, the estates manager disclosed that the Bakoteh Housing Estate was the first housing project implemented by SSHFC which was done on a mortgage term. He stated that turnkey and sight and service are the two processes in their housing projects. He also described the Housing Finance Fund as a distinct fund of its own which is accumulated from investments. He added that the Kanifing housing project was implemented in the 1990s, with 754 service plots allocated to Gambians.
Source: Daily Observer |
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