The Social Security and National Insurance Trust (SSNIT) has initiated moves to fully automate all member businesses as part of its long-term strategy to enhance efficiency and returns.
The move is accompanied by a comprehensive restructuring of the institution’s investment portfolio to prioritise high-yield areas such as the short end of the market.
Speaking at the 2025 Media Connect event in Accra, the Director-General of SSNIT, Mr Kwesi Afreh Biney, said the organisation was positioning itself for sustainable growth through digital transformation and strategic investment.
He explained that the ongoing restructuring aimed to maximise returns while strengthening the financial stability of the Trust to better serve contributors and pensioners.
Mr Biney said SSNIT was implementing an extensive digital blueprint to achieve scalability and accelerate the onboarding of new members.
He noted that strategic partnerships were also being forged with government agencies, fintech companies, and trade associations to drive value for all stakeholders.
According to him, the initiative would ensure seamless verification and service delivery through digital platforms such as the SSNIT mobile app, self-service portal, and USSD codes.
The Director-General disclosed that the Trust currently had 2.1 million active members who had contributed at least once during the pandemic, while total membership had exceeded four million.
He said pensioners on the payroll had risen to 257,940, reflecting steady growth since the scheme’s inception. SSNIT currently serves more than 96,000 private sector establishments, with about two-thirds of contributors drawn from the private sector.
Through the Self-Employed Enrolment Drive (SEED), nearly 100,000 informal sector workers have joined the scheme so far this year.
Mr Biney added that active membership had increased from 820,000 in 1991 to the current 2.1 million, while contribution collections had grown from two million cedis in 1991 to 7.6 billion cedis as of August this year.
He revealed that pension payments amounted to 5.1 billion cedis year-to-date in October. The number of pensioners had grown from 33 in 1966 to 257,940, with payments increasing from 85,000 old cedis to more than five billion cedis.
Processing time for pensions, he noted, had been reduced by 85 per cent, from 47 days in 2016 to a current target of seven days.
Mr Biney reaffirmed SSNIT’s commitment to ensuring income security for pensioners, noting that beyond pension payments, the institution had supported the Pensioners Association with 2.8 million cedis for a medical scheme this year, donated vehicles, and provided office spaces to enhance engagement.
He emphasised that SSNIT offered superior value compared to treasury bills, with annual indexation ensuring pensions keep pace with inflation.
Mrs Victoria Gifty Abaidoo, Corporate Affairs Manager of SSNIT, said the Media Connect platform served as an important space for dialogue and collaboration.
Reaffirming the partnership between SSNIT and the media, she said the event provided an opportunity to exchange ideas and renew collective commitment to responsible communication and social protection.
She acknowledged the crucial role of media partners in educating the public about the benefits of SSNIT’s schemes and in correcting misconceptions.
Mrs Abaidoo added that SSNIT remained dedicated to scaling up its digital initiatives and counted on the media to help raise awareness, clarify misinformation, and highlight the success stories of beneficiaries.
She concluded that SSNIT would continue to invest in high-return sectors while pursuing full automation to deliver improved efficiency and value for members.
By: David Adadevoh
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