Koforidua: Mr Kwesi Afreh Biney, Director-General of the Social Security and National Insurance Trust (SSNIT), has announced that the Trust is intensifying its regional stakeholder engagements to enhance public understanding of the national pension scheme and reinforce transparency. He made these remarks at the 2026 joint SSNIT and Trades Union Congress (TUC) regional forum in Koforidua, which is part of a nationwide effort to educate contributors on the scheme's operations, financial health, and expected retirement benefits.
According to Ghana News Agency, Mr Biney emphasized that the engagement efforts aim to bring the Trust closer to grassroots communities to foster mutual understanding and gather feedback from essential stakeholders like the Trade Union Congress. He highlighted that improving knowledge of the scheme could mitigate misinformation, which often leads to disputes.
Mr Biney pointed out that when individuals comprehend the scheme's purpose, benefits, and current state, disagreements are minimized. He described the Trust as financially resilient, noting that SSNIT has consistently met its pension payment obligations for over six decades. Between 2024 and 2025, the scheme showed robust performance, expanding its asset base by over 25 per cent due to real investment returns.
SSNIT currently has 2.1 million active contributors, a number Mr Biney considers low compared to Ghana's estimated 15 million working population. He stressed the importance of extending pension coverage to the informal sector, which makes up over 80 per cent of the workforce. These engagements aim to ensure that the informal sector understands the scheme's appeal and the benefits it offers.
Mr Biney highlighted recent measures to improve accessibility, such as the launch of a virtual branch in December, which allows users to access all services without visiting an office. Additionally, co-location arrangements with four banks enable contributors to access SSNIT services in banking halls.
He attributed the scheme's growth to strong liquidity and improved contribution inflows, noting that last year, over GHS12 billion was collected, with approximately GHS7 billion allocated to pension payments and the remainder invested to grow the scheme.
The Secretary-General of the TUC, Mr Joshua Ansah, remarked that the forum was instrumental in helping workers understand SSNIT operations and their future retirement benefits. He expressed the desire for workers to retire with dignity and emphasized the importance of empowering members to independently assess their pensions.
Mr Ansah also advocated for discussions on increasing contribution levels, arguing that current contributions were insufficient. He pointed out that workers pay more in taxes than in SSNIT contributions and suggested that any reform would require tripartite dialogue, particularly regarding the consolidation of salaries and allowances.
During the forum, SSNIT officials delivered presentations on contributions, benefits, digital services, and reforms. Participants raised concerns about processing delays, reconciliation of contributions, and identity verification. Organizers stated that the regional forums are part of a national campaign themed 'Empowered Unions, Secure Futures,' aimed at deepening pension literacy across Ghana.