The Social Security and National Insurance Trust (SSNIT) has announced that it currently pays pensions to over 257,000 retirees, reflecting the expanding coverage and stability of Ghana’s pension system.
The Trust says it is reinforcing its investment base and digital infrastructure to safeguard contributor returns and enhance nationwide service delivery.
SSNIT Director-General, Mr. Kwesi Afreh Biney, revealed that in 2023 alone, over 120,000 self-employed persons were newly enrolled onto the SSNIT scheme, a milestone that marks a growing recognition of the importance of social security among informal sector workers.
He added that SSNIT now operates 57 branches nationwide and has partnered with banks to extend service accessibility.
“Plans are also underway to launch a 24/7 virtual branch, enabling contributors and pensioners to access services anytime, anywhere”, he added.
Speaking on SSNIT’s financial strength, Mr. Frank Molbila, General Manager for Operations, highlighted the Trust’s diversified investment portfolio valued at GH¢24.5 billion, making it the largest institutional investor on the Ghana Stock Exchange.
The portfolio comprises GH¢11.7 billion in equities, GH¢6.8 billion in treasury bills, GH¢5.4 billion in real estate, and GH¢459 million channelled into strategic economic empowerment projects.
“For 60 years, SSNIT has stood beside workers throughout their journeys. For the next 60 years, we will walk even closer, powered by innovation, guided by integrity, and inspired by trust,” Mr. Molbila said.
Financial analysts note that SSNIT’s long-term investments not only support the sustainability of the pension fund but also play a pivotal role in capital market development, housing, and national economic growth.
The upcoming virtual branch is expected to revolutionise pension service delivery by streamlining claims processing, contributions tracking, and member verification through digital platforms.
This digital transformation, according to SSNIT officials, is part of a broader agenda to modernise operations, cut administrative costs, and enhance transparency.
Mr. Seth Quartey, SSNIT Tamale Area Manager, said the Trust’s continued innovation and prudent investment management remain central to sustaining the pension system amid changing economic dynamics.
Mrs. Jemilatu Mahamadu, SSNIT’s Marketing Manager, commended participants for their engagement, adding that SSNIT’s goal is to make social security “simpler, more accessible, and relevant to every worker across Ghana.”
The Trust’s expanding investment footprint and digital innovation are expected to strengthen Ghana’s social protection architecture while stimulating economic productivity through long-term financing.
With the youngest pensioner at 32 years due to permanent disability and the oldest at 115, SSNIT’s evolving structure underscores its central role in safeguarding livelihoods and fostering intergenerational security.
