SSNIT targets 614% rise in self-employed contributors by year-end

The Social Security and National Insurance Trust (SSNIT) has reported a substantial increase of nearly 300% in the number of self-employed individuals actively participating in the basic social security scheme. This remarkable surge comes in the wake of the Self-Employed Enrolment Drive (SEED) program, which was launched less than a year ago.

Previously, SSNIT counted a mere 14,000 self-employed contributors in its scheme, but this figure has now surged to 57,000 (300% increase), marking a significant transformation within a relatively short span. Dr. John Ofori-Tenkorang, the Director-General of SSNIT, revealed these numbers at a SSNIT-Trades Union Congress (TUC) event in Accra.

The SEED initiative represents SSNIT’s commitment to extending pension coverage to all workers, including the self-employed. Dr. Ofori-Tenkorang expressed optimism, stating, “I am hoping that maybe by the end of the year, we will double this figure and reach another 100,000 contributors (614% increase). If we maintain this growth trajectory, in just two or three years, we could well surpass the one million mark.”

One of the core objectives of SEED is to ensure that self-employed individuals have access to the same pension products as their counterparts in traditional office settings. The program aims to bridge the pension gap and integrate the vast informal sector workforce into the social security system.

Before SEED, only about 1.9 million out of an estimated 10 million workers in Ghana were covered by the SSNIT scheme, with a mere 32,000 self-employed contributors, representing a mere two percent of the total. Recognizing the unique challenges faced by self-employed individuals, Dr. Ofori-Tenkorang explained that SSNIT has streamlined the enrollment process, requiring only a Ghana Card and offering contributions via mobile money, making it more accessible for the self-employed.

With approximately 6.7 million self-employed individuals in Ghana, of which around 3.1 million fall within the 15 to 45 age range, the growth potential for SEED is substantial. Dr. Ofori-Tenkorang expressed confidence in the program’s trajectory, highlighting the need to ensure that self-employed individuals enjoy the same pension benefits as office workers.

Furthermore, Dr. Ofori-Tenkorang emphasized the cost-effectiveness of utilizing the Ghana Card and an electronic remittance system, which has significantly improved efficiency in the contribution process.

SSNIT’s efforts extend beyond SEED, with a nationwide campaign involving regular engagement with self-employed associations and workplaces. The campaign aims to educate and enroll eligible individuals into the pension scheme, using initiatives such as ‘You Are Wanted’ activities, weekly workplace visits, and multimedia advertising.

The success of SSNIT’s SEED program demonstrates a substantial step toward enhancing pension coverage in Ghana and expanding inclusivity within the social security system.

SSNIT