The Social Security and National Insurance Trust (SSNIT) says it expects to recruit roughly one million informal sector contributors in the coming year as part of its efforts to increase pension penetration in the country.
Dr Ofori Tenkorang, the Director-General of SSNIT, stated that his organization was confident in attaining this goal while also shifting the existing narrative.
“Based on our own data, we estimate that only about 14,000 persons in the informal sector have enrolled in our pension program, which is a very small number.” So, the terrain is wide open and this program that we are embarking on, my hope is that maybe a year after we have rolled out this campaign, we can get as much as about a million people.”
- Gov’t pays GH¢5.7bn of debts to SSNIT
- We must find ways of building affordable houses – Akufo-Addo to stakeholders
He added that “I know it’s a very aggressive target because people need to buy into the idea that they too can join this scheme. People need to disabuse themselves of the notion that giving your money to SSNIT is a waste, especially people in the informal sector who feel that they need the money now, not for some time later, which for them sometimes they think will never come.”
Mr. Tenkorang was speaking to the media on the sidelines of a stakeholder engagement on the national pension scheme provider’s planned campaign to extend coverage to the informal sector.
Out of the over 11 million workers in the country, less than 2 million of them are active SSNIT contributors.
However, the informal sector dominates the yet to be registered fraction.
