SSNIT launches 2024 Mobile Service Week
The Social Security and National Insurance Trust (SSNIT), has launched this year’s Mobile Service Week with a focus on self-employed persons and those in the informal sector.
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It is on the theme: “Sign up with SSNIT today for a pension that pays you as long as you live.”
It is meant to express the essence of a special initiative of the trust, dubbed Self Employed Enrolment Drive (SEED) which offers lifetime financial security for all workers in the country through a reliable source of income upon retirement, among other objectives.
The Director-General of SSNIT, Kofi Bosompem Osafo-Maafo, who launched the programme at Winneba in the Central Region, said: “Bringing in self-employed workers underscores our commitment to provide sustainable support to our members”.
“Indeed, we firmly believe that SSNIT has a compelling story to tell, given all the benefits associated with the scheme,” he added.
The enrolment drive which started last year with about 13,000 members in May 2023, now stands at about 100,000 with a sustained campaign to increase the numbers significantly going forward.
Data
This comes on the back of the Ghana Statistical Service data which shows that 60 per cent of 3.2 million workers in the formal sector were covered by the SSNIT scheme.
And out of the 6.7 million self-employed workers, about 3.1 million people between ages 15 and 45 qualify to be on the SSNIT scheme.
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However, only about 100,000 (3.2%) of the number are covered by SSNIT.
Mr Osafo-Maafo said, “If we go by where we started, it means we have achieved a 700 per cent increase from the 13,000 workers that we signed up a year ago when we started the SEED journey”.
He said the Tier One pension scheme was most appropriate for workers because “trust pays old age pension for life, even beyond 90 and100 years and so on; no matter how long you live”.
“SSNIT will continue to pay you a pension, provided you have contributed for at least 180 months (15 years) or more,” the D-G added.
Another benefit is that monthly pensions are increased annually to help maintain the purchasing power of pensioners.
He said for 13.5 per cent contributions made, SSNIT guaranteed up to a 60 per cent average of a contributor’s best three years’ salary, depending on the number of years one had contributed.
“SSNIT also remits 2.5 per cent of contributions to NHIS monthly to cover your health care. In effect, SSNIT retains only 11 per cent of your salary, but promises you up to 60 per cent of the average of the best three years’ salary,” Mr Osafo-Maafo, added.
Assurance
He further reassured the public of the safety of their investments with the trust.
“Let me reassure you that SSNIT will manage your money prudently. We work to maximise returns. And as the Director-General, I want to assure you of my commitment to ensuring that the scheme remains robust for future generations,” he said.
The trust also launched its digital bouquet platforms which comprised an app, a new website and portal, as well as an upgraded USSD platform.
They are meant to enhance the ease with which clients transact business with the trust.