Informal sector workers advised to capitalise on SSNIT’s SEED to secure their retirement
Dr John Ofori- Tenkorang, the Director-General of the Social Security and National Insurance Trust (SSNIT), has advised informal sector workers to take advantage of the Trust’s Self-employed Enrollment Drive (SEED) initiative, to secure a robust retirement plan.
He said the SEED allowed every worker to join the SSNIT scheme and contribute towards their retirement by enabling them to benefit from a comprehensive pension package offered by the Trust.
In addition to enjoying social security protection during retirement, contributors were also entitled to invalidity pensions, disability support, and free access to the National Health Insurance Scheme (NHIS).
Dr Ofori-Tenkorang gave the advice in an interview with the media at the 2023 SSNIT/Trade Union Congress regional SEED forum held in Sunyani, under the theme, “Sign up for SEED from SSNIT, Eye wo daakye. Fa no personal.”
The SEED initiative, launched in May 2023, specifically targeted self-employed individuals and formal sector workers, urging them to make regular contributions to the SSNIT scheme based on their earnings.
It also aimed to engage the informal sector, recognising their significant role in economic development, and educating them on the importance of joining and contributing to SSNIT to ensure they secure a stable financial future.
Dr Ofori-Tenkorang mentioned that about 6.7 million individuals who operated in the informal sector and were the driving force behind the country’s economy, had not taken advantage of the SSNIT scheme.
He said nine per cent of the total number of informal workers were covered under a pension scheme, with a mere 0.5 per cent being covered under the SSNIT scheme, in contrast, a significant 60 percent of the 3.2 million individuals employed in the formal sector are covered under the SSNIT scheme.
Statistics on the active membership showed that the private sector could boast of 1,187,675 contributors, accounting for 61.33 per cent, while there were 694,791 public sector contributors, representing 35.88 per cent, with the self-employed consisting of 54,007 members, making up 2.79 per cent, Dr Ofori-Tenkorang said.
Dr Ofori-Tenkorang advised workers, particularly those in the informal sector, to prioritise their pensions by joining the SSNIT scheme and actively contributing towards their retirement to secure their future.
Ms Faustina Takyiwaa, a beautician and a participant, encouraged her colleagues in the informal sector to join the SSNIT SEED initiative and contribute, as it presented a vast opportunity to secure their financial future at their old age.
Source: GNA