By: Kekeli K. Blamey
The government of Ghana has paid GH¢2.5 billion in bonds to settle arrears owed to the Social Security and National Insurance Trust (SSNIT), as announced by Director-General Kofi Osafo-Maafo during a stakeholder engagement with pensioners in Kumasi.
This payment significantly improves the Trust’s financial position.
SSNIT has made remarkable progress in recent years. As of August, the Trust had paid over GH¢3.7 billion in pensions to more than 250,000 retired workers.
The net surplus has also seen a significant turnaround, from a deficit of GH¢300 million in 2021 to a surplus of GH¢865 million in 2023.
This upward trend is expected to continue, with preliminary data indicating further growth in the first half of 2024.
The Ashanti Regional Chairman of the National Pensioners’ Association, Adarkwa Tuffour, praised SSNIT for its consistent pension payments over the past 33 years, providing security and dignity to retired workers.
He urged citizens to protect the scheme for future generations, emphasizing its value beyond mere numbers.
SSNIT’s Self-Employed Enrolment Drive (SEED) Gains Momentum
SSNIT aims to enroll 250,000 self-employed individuals into the SEED program by next year, following the enrollment of 120,000 people since its launch in May 2023.
The initiative seeks to provide social protection and comfortable retirement for self-employed workers.
Mr Joseph Poku, Chief Actuary-SSNIT, attributed the growth to the Operation-A-Thon sensitization tour, which has covered major towns across the country.
He expressed confidence that continued public engagement will increase understanding of SSNIT’s role and the importance of joining the scheme.
Through SEED, SSNIT offers valuable services to all Ghanaian, helping curb old-age poverty.
