SSNIT Archives - Page 3 of 4

04 Oct

SSNIT Pays ¢372.87M To 241,675 Pensioners In September 2023

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The Social Security and National Insurance Trust (SSNIT) paid a total of over GH¢372.87 million to some 241,675 pensioners in September 2023. This shows the commitment of the pension scheme by the Trust. Currently, the SSNIT Pension Scheme has an active membership of over 1.9 million contributors. Meanwhile, the Trust has held a two-day technical seminar on leveraging digitalisation to extend social security coverage in West Africa has been held in Accra. The seminar was hosted by SSNIT, under the auspices of the International Social Security Association (ISSA) – an international organization for social security institutions, government departments and agencies…

21 Aug

Employers Urged To Promote SSNIT To Increase Contributors

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Dr John Ofori-Tenkorang, the Director-General of Social Security and National Insurance Trust (SSNIT), has appealed to employers to back up efforts at awareness creation on the benefits of the Trust to boost the number of contributors. He said SSNIT was a lifelong insurance scheme available to every worker between the ages of 15 and 45, who was “engaged in honest and good employment” in the public and private sectors. The Director General of SSNIT made the call during the Fourth Employers’ Breakfast Meeting in Koforidua at the weekend, on the theme: “Provide Pension for All: The Role of Employers.” The…

09 Aug

SSNIT Retrieves GH¢132 Million From Employers Through Court Action

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The Social Security National Insurance Trust (SSNIT) says it has retrieved GH¢132 million from 2,272 cases filed at the law court within the first half of 2023. The cases were related to employers who failed to honour statutory social security obligations on behalf of their employees. The Director-General of SSNIT, Dr. John Ofori-Tenkorang made this known at the 4th edition of Employers Breakfast Meeting held on the theme, “Providing Pension for All, the Role of Employers” in Accra. He indicated that as at the end of 2022, there were 83,773 active establishments on the SSNIT database with 63,667 complying with…

19 Jun

SSNIT Encourages Workers To Negotiate For Better Basic Income

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Mr Charles Akwei Garshong, Public Affairs Manager, Social Security and National Insurance Trust (SSNIT), has urged workers to negotiate for a basic income component of their salaries which outweighs their allowances. Doing so, he said, would enable them to have better pension benefits. He observed that most employers would prefer paying low basic income and higher allowances to employees to avoid paying higher social security contribution for employees which was calculated on basic income. “If the basic is small, it simply means your pension will be small because when we are calculating your pension, we will not take into consideration…

14 Jun

Businesses Defaulting In Paying SSNIT Contributions Could Face 5-Year Jail Term

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The Social Security and National Insurance Trust (SSNIT) has warned enterprises that fail to make SSNIT contributions for their employees to stop or face consequences. According to Charles Akwei Garshong, Public Relations Manager, failure to pay SSNIT contributions on time is a violation of the law. He recommended firms contact SSNIT if they are having difficulty paying contributions on time so that both parties may work out a solution. He added that failure to pay SSNIT contributions on time accrues interest or penalties. Speaking on the sidelines of a workshop to train media on the Self-Employed Enrolment Drive (SEED), he…

13 Jun

SSNIT Intensifies Drive To Insure Over 500,000 Self-Employed Workers

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The Social Security and National Insurance Trust (SSNIT) is intensifying activities to register more than half a million self-employed workers by the end of the year under the Self-Employed Enrolment Drive (SEED). The focus on pension plan for the self-employed is to provide income replacement and a guaranteed source of income during old age or permanent disability for the self-employed mostly in the informal sector. Out of an estimated workforce of 11.5 million, according to the 2021 Population and Housing Census, there are over 9.9 million working population with 6.7 million being self-employed in the informal sector, which forms about 85 per cent of the…

09 Jun

SSNIT Urges Informal Sector Workers To Secure Their Retirement

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The Social Security and National Insurance Trust (SSNIT) has said it is making efforts to increase informal sector workers’ enrolment in the scheme. This is been done under the newly launched Self-Employed Enrolment Drive (SEED) campaign, which aims to provide a reliable source of income and financial independence for workers during retirement or periods of inactivity. To raise awareness about the importance of social security, SSNIT organized a sensitization workshop for journalists from the Upper East and Northern Regions. The workshop emphasized the significance of SEED in extending pension coverage to self-employed individuals and informal sector workers, offering them a…

12 May

Only 2% Of Active SSNIT Contributors Are Self-Employed – Director-General

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The Director General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang has revealed that a mere 2 percent out of the 1.9 million SSNIT contributors are self-employed, a situation he described as disturbing. Currently, only 32,000 self-employed workers contribute to the scheme regularly out of the 1.9 million regular contributors. Nine months ago before the enrolment of an aggressive drive to rope in more self-employed contributors, the figure was only 14,000. “Unfortunately, only about 1.9 million of the 10 million or so workers in the country are covered under the SSNIT scheme. What is more disturbing…

12 May

SSNIT Rolls Out Pension For Self-Employed Workers

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The Social Security and National Insurance Trust (SSNIT), has rolled out an initiative to provide pensions and related benefits to self-employed workers in the informal sector. The initiative dubbed Self-Employed Enrolment Drive (SEED), focuses on fulfilling the mandate placed on the Trust (SSNIT) to extend pension coverage to all workers especially, the self-employed. In pursuit of this agenda, the Trust in 2022 carried out extensive engagements with various stakeholders across the country to solicit their input and support on how the self-employed can also have access to pension during retirement. He said generally Speaking during the launch of SEED in…

12 May

Number Of Self-Employed Persons Enrolled In SSNIT Pension Scheme Doubles

wontumionlineBusinessDr. John Ofori-Tenkorang, SEED, SSNIT

The number of self-employed persons enrolled in the Social Security and National Insurance Trust (SSNIT) pension scheme has doubled in the past nine months. This follows the rollout of a Self-Employment Enrolment Drive to provide pensions and related benefits to self-employed workers. It is in line with the Trust’s mandate to extend pension coverage to all workers, especially the self-employed. Director-General, John Ofori-Tenkorang, Dr. John Ofori-Tenkorang, at the launch of the Self-Employment Enrolment Drive (SEED) in Kumasi in the Ashanti regional capital said there is a need for the Trust to embark on aggressive marketing to attract the informal sector. “We…