The Minister for Employment, Labour Relations, and Pensions, Ignatius Baffour Awuah, has announced that the Social Security and National Insurance Trust (SSNIT) has successfully enrolled over 103,292 self-employed individuals through its Self-Employed Enrolment Drive (SEED) initiative.
Launched in May 2023, SEED aims to address the low pension coverage among self-employed workers by providing flexible contribution plans and tailored benefits similar to those salaried workers enjoy.
This initiative is a significant step towards broader financial security for Ghana’s workforce.
At a press briefing organized by the Ministry of Information in Accra, Baffour Awuah highlighted that SEED has already generated GHS 52.6 million in contributions.
The initiative is expected to grow as more self-employed individuals join the scheme.
In addition to SEED’s success, Baffour Awuah reported that SSNIT collected 90.8% of its projected private sector contributions, totalling GHS 2.4 billion, and exceeded its public sector contribution targets with GHS 3.2 billion, representing 144% of the projected amount.
The Minister also noted that SSNIT’s total assets under management have surged from GHS 15.2 billion in December 2016 to GHS 71.69 billion by March 2024, reflecting a 350% increase.
This growth supports investment, infrastructure development, and job creation, contributing to the country’s economic development.
The government remains committed to the responsible management of pension funds to ensure the future security of all contributors.
