The Social Security and National Insurance Trust (SSNIT) has raised GHS61.7 million in contributions under the Self-Employed Enrolment Drive (SEED) by August 2024.
So far, about 114,983 Ghanaians have signed onto the initiative, which was launched in May of last year to extend pension coverage to self-employed people and workers in the informal sector.
Mr Richard Manu, SEED Manager disclosed this during the 2024 SSNIT Employers Breakfast meeting held on the theme, ‘Maximising the use of digital platforms to improve contribution collection and payments’.
He noted that Self-employed contributors made up. 2.71 per cent of the over 2 million active members of the scheme.
Mr Manu stated that the private sector had 1,298,713 contributors, representing 62.67 per cent, while the public sector had 702,863 contributors, accounting for 34.47 per cent.
Mr. Kofi Bosompem Osafo-Maafo, Director General of SSNIT, said the Trust had a surplus of about GHS 864 million in 2023, which he anticipated would increase in 2024.
He attributed the increase to improvements in the collection of contributions, net investment income, cost control, and the general administration of the Trust.
‘I want to take this opportunity again to reassure you that each of us working for you as employers and pensioners are doing our best to improve the scheme and its sustainability,’ he said.
Ms Juliana Kpedekpo, Deputy Director General in Charge of Operations and Benefits at SSNIT said the timely payment of contributions by employers to SSNIT provides a sense of security to workers.
‘Paying your workers’ contributions shouldn’t be seen as just an obligation but as an opportunity to demonstrate good business practices. This will boost employee morale and consequently enhance productivity in your business,’ she said.
Source: Ghana News Agency