Africa-Press – Ghana. Vice President Professor Naana Jane Opoku-Agyemang has called on the Social Security and National Insurance Trust (SSNIT) to extend pension coverage to informal sector workers and the self-employed.
Speaking, Monday, at the launch of the 60th Anniversary Celebration of the inception of a national social security scheme in Ghana, the Vice President commended stakeholders for its transformation from a provident fund, in 1965, into a three-tier pension scheme.
She, however, urged management and staff to do more to ensure inclusivity.
The Vice President noted that the real effectiveness of Ghana’s social security system would be measured by the extent to which it covered all workers in the country irrespective of their location or occupation.
“We must aim to make the scheme stronger, more equitable, and more sustainable, and to broaden coverage to reach informal sector workers and their self-employed.
“The next phase of social security in Ghana must be driven by inclusion, sustainability, and adaptability, “she said.
Prof. Opoku-Agyemang also emphasised the need for prudent financial management, sound investment decisions, and continuous stakeholder engagement to ensure the Trust’s long-term sustainability.
Highlighting the evolving nature of work, she urged SSNIT to adapt to trends such as the gig economy, automation, and remote work.
“The future of work is transforming. The rise of the gig economy, automation and remote work present a new challenge to traditional social security models.
“We must participate and anticipate in this to innovate accordingly in order to keep ourselves relevant,” she added.
In November 1972, NRC Decree 127, established the Social Security and National Insurance Trust (SSNIT) as an autonomous body to administer the Social Security Scheme.
Ghana became a member of the International Social Security Association (ISSA), after converting the Provident Fund into a Pension Scheme in 1991.
ISSA is the world’s leading international organisation that brings together national social security administrations and agencies.
SSNIT currently administers Ghana’s Basic National Social Security Scheme, also known as the First Tier Pension Scheme.
The Trust provides income security for Ghanaian workers, including the self-employed.
Presently, SSNIT has more than two million active contributors, covering 89,000 employers, and pays monthly pensions to more than 257,000 pensioners.
Mr Julius Debrah, Chief of Staff, congratulated SSNIT on its achievements and urged it to remain “the source of hope” for Ghanaian workers.
“A true legacy is not measured only by statistics, but by the real impact the Trust has made on people’s lives, that is, the financial security it provides during retirement, the peace of mind it brings to pensioners, and the dignity it brings along,” he said.
SSNIT Director-General, Mr Kwesi Afreh Biney, announced plans to launch the Trust’s first virtual branch in September. The platform will operate 24/7 to improve access for informal workers and those in the gig economy.
“Every Ghanaian who labours in dignity must retire in dignity,” Mr Biney said, assuring that SSNIT would continue to pursue strategic investments and pay pensions promptly.
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