Mr. Ernest Thompson, due for pension this year, whilst entitled to end of service benefits, including his SSNIT contributions, has been offered a GH¢600,000.00 mortgage loan facility from SSNIT Funds to be paid in 10 years.
As if the management did not know that Ernest is due for retirement this year, they have stated in the letter, too, that if he is not able to pay up by the time he retires, he would be obligated to pay all outstanding debts within the retirement period.
The letter, dated December 28, 2016, and signed by Henry Van-Hein Sackey, stated that “we are pleased to inform you that management has approved a Mortgaged loan of GH¢600,000.00 for the acquisition of a house”.
Continuing, the document stated that “the loan would be processed by an in-house Mortgage Processing Team, comprising Human Resource Management, Properties Documentation, Properties Cluster A and Payments Departments.”
According to the document, further, “Repayment shall be at a maximum period of 10 years deductions from your monthly salary.
“However, in case of resignation, termination of appointment or summary dismissal, whiles still servicing the loan, you will be expected to make an outright payment of the outstanding balance at the prevailing Treasury Bill Rate within a period of not more than twelve (12) months from the date of disengagement.”