More than 103, 292 self-employed individuals have been enrolled onto the Social Security and National Insurance Scheme’s (SSNIT) initiative christened the ‘Self-Employed Enrolment Drive (SEED) aimed at expanding pension coverage for workers in the informal sector.
Ignatius Baffour Awuah, the Minister of Employment, Labour Relations, and Pensions, announced this during the Minister’s news briefing organised by the Ministry of Information in Accra on Wednesday.
The initiative launched in May 2023, has successfully enrolled over 103,292 self-employed individuals onto the SSNIT Scheme, marking a crucial step toward ensuring financial security for a broader section of the Ghanaian workforce.
Mr. Baffour Awuah stated that the SEED initiative was introduced to address the long-standing issue of low pension coverage among self-employed workers, who constituted a significant portion of the country’s labour force.
He said the initiative offered tailored benefits and flexible contribution plans to self-employed persons with the same financial security as workers working in the formal sector.
Meanwhile, in the first half of the year, SSNIT has collected 90.8% of its projected private sector contributions, amounting to GH¢2.4 billion, slightly below the expected amount of GH¢2.6 billion.
However, the public sector contributions had exceeded expectations, with SSNIT collecting a total of GH¢3.2 billion, representing 144% of the projected GH¢2.2 billion.
These assets were critical for investment, infrastructure development, and job creation, contributing to the broader economic growth of the country.
