SSNIT assures prudent management of assets
The Social Security and National Insurance Trust (SSNIT) says it is continuing to manage its assets prudently to protect the interests of contributors and pensioners. Speaking at a breakfast meeting for employers in Accra, Director-General of the Trust Mr. Kofi Bosompem Osafo-Maafo reaffirmed the Trust’s commitment to fulfilling its obligations while improving operational efficiencies and expanding services.
During the event, Mr. Osafo-Maafo highlighted SSNIT’s strong financial performance, noting the Trust’s shift from a deficit of GHS 230 million in 2021 to a projected surplus of GHS 864 million in 2023. He attributed this financial turnaround to better contribution collection, enhanced net investment income, and cost control measures. “We are working tirelessly to maintain the sustainability of the scheme,” he assured stakeholders.
The breakfast meeting, attended by over 85 employers, was aimed at strengthening relationships and discussing new services. Mr. Osafo-Maafo expressed gratitude to the employers for their compliance with SSNIT regulations, acknowledging their role in sustaining the pension scheme. “We appreciate your efforts and your commitment to upholding the regulations,” he said.
A key focus of the meeting was SSNIT’s ongoing digital transformation aimed at improving service delivery. Under the theme ‘Maximizing the Use of Digital Platforms to Improve Contribution Collection and Payment,’ Mr. Osafo-Maafo announced that SSNIT has fully integrated technology into its operations to streamline processes for employers and contributors.
He emphasized the elimination of manual data entry and paperwork, highlighting the time savings brought about by digital transactions. “We are determined to make your interactions with SSNIT as seamless and efficient as possible through our new digital services,” he stated.
SSNIT’s mobile app and USSD platforms were introduced as key tools enabling contributors to manage their accounts, check their pension status, and access services remotely. Mr. Osafo-Maafo explained that these digital tools would also allow employers to submit contribution reports, track payments, and ensure compliance more efficiently.
In addition to digital services, SSNIT has introduced new customer service initiatives to support employers and contributors, enhancing communication channels and making the Trust more accessible and responsive.
Concluding the session, Mr. Osafo-Maafo reiterated SSNIT’s commitment to prudent financial management and long-term sustainability. He encouraged employers to fully embrace the digital services and foster a strong partnership with the Trust, ensuring mutual benefits for all stakeholders.
The breakfast meeting also provided an open forum for employers to ask questions and gain insights into SSNIT’s future plans, reaffirming the Trust’s role as a cornerstone of financial security for workers and retirees in Ghana.
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