The Social Security and National Insurance Trust (SSNIT), in collaboration with the Trades Union Congress of Ghana (TUC), has organized a regional forum under the theme “Empowered Unions, Secure Future: Defining Pension Literacy Across Ghana.”
The event brought together key stakeholders and members of the TUC to discuss pension education, investment awareness, and retirement planning for Ghanaian workers.
In his welcome address, the Secretary-General of the TUC, Joshua Ansah, emphasized the importance of workers being actively involved in their investments and retirement planning instead of waiting until they are close to retirement.
“Many of us do not bother about our investments until we are getting close to retirement. As trade unionists, you should be well vested in an important organization like SSNIT where every month your monies are deducted and paid for them to invest and get you something in dignity when you retire.”
Mr. Ansah encouraged trade unionists to take a keen interest in the SSNIT scheme, where monthly contributions are invested to provide financial security and dignity in retirement.
He further urged participants to listen attentively, take notes, and ask questions during the forum so they can later serve as ambassadors and advocates for SSNIT in their respective workplaces.
He also highlighted the importance of understanding the second tier of the pension scheme, noting that many workers are unaware of where their second-tier contributions are managed.
“After the presentations, ask your questions. When we close from here, you should become ambassadors and advocates for SSNIT at your various workplaces. Many of you don’t even know where your second tier is, so take advantage of this opportunity.”
The Director-General of SSNIT, Kwesi Afreh Biney, expressed appreciation to the leadership of the Trades Union Congress for partnering with the Trust to discuss the future of Ghanaian workers.
According to him, the forum aims to update union leaders on the progress of the pension scheme and gather feedback from them, as unions represent workers while SSNIT ensures income security for them after retirement.
Mr. Biney stressed the importance of workers understanding their pension schemes and being adequately prepared for retirement.
He also highlighted the growth and strength of the pension scheme managed by SSNIT.
Key Achievements of the Scheme
Over 2.1 million active members and more than 261,000 pensioners receiving benefits.
About GHS 600 million paid monthly in pensions.
More than GHS 1 billion collected monthly for investment on behalf of workers.
A real investment return of 8.03% in 2025, improving from –4.2% in 2024 after adjusting for inflation.
Scheme assets growing by over 25%, from GHS 20.4 billion to more than GHS 25 billion, with projections nearing GHS 27 billion after final audits.
Pension application processing time reduced from 47 days to about 7 days due to digital improvements.
He noted that the forum was not only meant to share updates but also to receive feedback from union leaders to help strengthen the pension scheme and improve service delivery to Ghanaian workers.
During a presentation by SSNIT officials, it was explained that the forum with TUC is intended to enhance regional education drives, promote joint pension campaigns, support compliance monitoring, and advocate for salary consolidation while clearing misconceptions about the SSNIT scheme.
Source:Fiilafmonline/Walkiyatu Issahaku
