Correspondence from the Eastern Region

The Social Security and National Insurance Trust (SSNIT) has intensified efforts to enhance pension literacy and stakeholder collaboration following a high-level engagement with the leadership of the Trades Union Congress (TUC) in Koforidua in the Eastern Region.

The engagement, held on Thursday, March 19, 2026, brought together officials from both SSNIT and TUC, alongside workers from various sectors across the region, as part of an ongoing nationwide outreach aimed at improving understanding of Ghana’s pension scheme and addressing concerns about retirement benefits.

In his welcome address, Secretary General of the TUC, Brother Joshua Ansaa, underscored the growing importance of pension education among workers, noting that questions surrounding retirement benefits, SSNIT’s operations, and investment strategies have become increasingly prominent.

“Pension has become a very important issue on the lips of all employees,” he stated. “This collaboration is part of our commitment to bring education to the grassroots, ensuring that every worker understands how the scheme operates and what they stand to benefit upon retirement.”

He urged workers, particularly those in the formal sector, to actively monitor their monthly contributions to ensure employers remit deductions to SSNIT. According to him, retirement planning should begin from the very first day of employment.

“We want every worker to retire in dignity. No one should retire and struggle to survive shortly after. It is important to understand what you are entitled to before you retire,” he emphasized.

Brother Ansaa further encouraged participants to disseminate knowledge gained from the engagement to colleagues who were unable to attend, describing the forum as a critical step in strengthening pension awareness at the grassroots level.

Addressing participants, the Director-General of SSNIT, Kwesi Afreh Biney, highlighted the significance of the collaboration, describing it as a platform to deepen mutual understanding, gather feedback, and clarify misconceptions about the pension scheme.

“This engagement is meant to bring us closer to the workers, to help them understand what the scheme stands for, what is possible, and what is not,” he said. “When people are well informed, it reduces misunderstandings and builds confidence in the system.”

Biney disclosed that SSNIT recorded strong financial performance in the past year, with the scheme’s total investment portfolio growing by more than 25 percent. He added that real returns on investments exceeded 8 percent after accounting for inflation, indicating robust asset growth and prudent management.

“Our responsibility is to ensure that while we grow the fund, we also deliver on our core mandate — paying benefits to contributors. For over 60 years, SSNIT has never defaulted in pension payments,” he noted.

He also highlighted efforts to improve accessibility to SSNIT services, including the introduction of digital platforms and partnerships with selected banks to enable contributors access services without visiting SSNIT offices.

In an interview on the sidelines of the event, Biney explained that the broader objective of the engagement was to deepen public understanding of the scheme, address misconceptions, and attract more participants, particularly from the informal sector, which constitutes over 80 percent of Ghana’s workforce.

“We believe that increased engagement leads to better understanding. Once people appreciate how the scheme works and the benefits involved, confidence in SSNIT will continue to grow,” he said.

The TUC Secretary General, in a separate interview, reiterated the need to review contribution levels to enhance retirement benefits. He observed that current contributions may be insufficient, suggesting that broader discussions involving employers and employees could help improve outcomes.

“If contributions are increased, benefits will also improve. We need to explore ways of consolidating incomes, including allowances, to ensure higher contributions and better pensions,” he proposed.

The event featured a series of presentations by SSNIT officials on pension benefits, investment strategies, and the role of pensions in national development. An open forum session allowed participants to ask questions and seek clarification on issues affecting their contributions and future benefits.

Participants drawn from various districts across the Eastern Region described the engagement as timely and informative, expressing optimism that such initiatives would enhance transparency, trust, and long-term sustainability of the pension scheme.

The SSNIT-TUC collaboration forms part of a broader strategy to promote pension awareness and ensure that all Ghanaian workers, regardless of sector, are adequately prepared for retirement.