The Social Security and National Insurance Trust (SSNIT) has announced that it has saved GH¢ 519 million by “deactivating” the names of “ghost pensioners” from its payroll.
This was disclosed by the Director-General of SSNIT, Mr. Kofi Osafo-Maafo, at a press conference on Monday, July 8, 2024.
Mr. Kofi Osafo-Maafo noted that the trust’s successful stories and achievements are often overlooked.
He noted that they have seen increased returns on investments in the various areas in which they have a stake.
He touted SSNIT as the best pension scheme that provides retirement benefits that “no other pension scheme” in the country offers.
Mr. Kofi Osafo-Maafo indicated SSNIT percentage increments in their pensions over the period.
“A member on pension for 22 years, as of 2022, has had an overall pension increment of 3,684 percent; a member on pension for 17 years has had 1,026 percent… and those on pension for 7 years have had an increment of 132.21 percent,” he stated.
The Director General said the scheme would remain viable in the years ahead, contrary to reports that it was “running out of funds.”
He added that the trust was improving technology and would continue to adopt various strategies to remain efficient in the future.
He said that as part of efforts to prevent the depletion of their reserves, they have engaged with the government to ensure they are current with monthly contribution payments, whereas it has also invested in technology to reduce the cost of running the scheme and improve operational efficiency.
SSNIT has also introduced flexible repayment terms for Indebted employees (Negotiated Agreement).
He also touched on the Self-Employed Enrollment Drive (SEED) initiative, aimed at enrolling more informal sector workers.
The initiative he pointed out has chalked significant gains, with 14,000 persons registered in 2023 and 101,028 self-employed persons by June 2024.
The initiative, dubbed Self-Employed Enrolment Drive (SEED), seeks to fulfil the mandate of SSNIT to extend pension coverage to all workers, including the self-employed.
By: Rainbowradioonline.com/Ghana















