SSNIT pays GHS 3.2 billion to contributors in six months

The Social Security and National Insurance Trust (SSNIT) paid close to GHS3.2 billion to beneficiaries from January to June this year, Mr Kofi Bosompem Osafo-Maafo, the Director-General, has said. 

He said the Trust disbursed GHS3,167,421,314.35 to some 267,874 beneficiaries under various benefit types.

Speaking at the launch of the 2024 SSNIT Mobile Service Week, he explained that 248,554 beneficiaries received old-age pensions, 1,666 received invalidity pensions, and 2,941 received old-age lump sum.

He added that survivors’ lump sum was given to 14,493 people, refunds were made to 92 people and 128 received an emigration lump sum.

Within the same period, Mr Osafo-Maafo said the Trust saved more than GHS550 million from deactivating pensioners on the pension payroll above 72 years who failed to renew their pension certificates.

He further revealed that SSNIT had introduced the deactivation as a measure to ensure that pensions were only paid to pensioners over 72 years and still alive.

He said a total of 42,745 of such names were deleted but 24,177 had been reinstated leaving 18,568 as of June.

“I am pleased to report that this measure has saved the Trust more than GH¢550 million as of June 2024.

“Let me add that, anytime such pensioners renew their Pensioner Certificates, their accounts will be reactivated and arrears paid to them,” Mr Bosompem Osafo-Maafo said.

The Director General urged traders, market women, entrepreneurs and other workers in the informal sector to sign up for the SSNIT scheme to secure their future.

He cautioned that old age, invalidity and death did not discriminate and, therefore, it was imperative to enrol on the scheme against such eventualities.

The Director General noted with concern that while 60 per cent of 3.2 million formal sector workers were covered under the SSNIT scheme, only 3.2 per cent (100,000) of the 3.1 million qualified informal sector workers were on the scheme.   He observed that the number was an improvement upon the situation last year but it remained largely insignificant.

He, thus, implored every working member of the public to join the scheme irrespective of their job or earnings provided they were not above the age of 45.

This year’s SSNIT Mobile Service Week is on the theme: “Sign up with SSNIT today for a pension that pays you as long as you live.”
The SMS Week seeks to take service delivery to the doorsteps of clients, particularly with the aim of ramping up the number of self-employed people on the scheme.

The Trust has deployed 76 mobile teams to designated locations across the country to support customers in all ways including registering employees, issuing statement of accounts, merging SSNIT and National Ghana Card numbers of members, and reactivating accounts.