The employer and employed both have responsibilities under the National Pensions Act, 2008 Act 766. If an employer does not comply with the Act, he can incur penalties and suffer a loss of reputation.
- Register with both SSNIT and a fund manager of his choice.
- Ensure all their employees registered with SSNIT.
- Deduct and pay contributions on their behalf.
- Submit required returns and contributions at the end of every month.
- Make pension payments not later than the 14th day of the following month as late payment will attract penalty.
- Keep adequate personal records, including their social security numbers, NIA Number, remunerations, payroll reports and monthly returns.
- Notify SSNIT of change in labour force, location, status, and cessation of operation.
- Make available all such information and documents for inspection when required to do so by an accredited officer of the Trust.
- Register with SSNIT to get a Social Security number.
- Be truthful in the information you provide to register with SSNIT. Untruthfulness can have consequences.
- Contribute to the SSNIT Scheme during their working life.
- Check that your employer deducts and pays your contributions to SSNIT and your pension fund managers.
- If your employer does not make deductions and payment on your behalf, notify SSNIT and your fund manager.
- Do not register more than once. If you lose your card or forget your number, report it to SSNIT and they will help you. It is criminal to register more than once. You also lose your earlier contributions.
- Notify SSNIT and your fund managers of any changes to your personal data and your next of kin.
- Notify SSNIT of any disability or decision to take early retirement.
- To get the full benefits, contribute for 240 months before age 60.
- An employee cannot opt out till he/she is over 55 years.