application of SEED
By adding self-employed people to its basic social security program—who were previously exempt from legal obligations to enroll—the SSNIT has accomplished a major milestone.
The SEED is a new project that is in line with SSNIT’s goal of providing pension coverage to all workers, including independent contractors.
Dr. John Ofori-Tenkorang, the Director-General of SSNIT, has stated on a number of media outlets that this effort would not only redefine social security in the nation but also provide independent contractors with the opportunity to retire with financial security and dignity.
Just about 1.9 million of the country’s projected 10 million workers are currently covered by the SSNIT program.
Only a small percentage of the 1.9 million active SSNIT participants were self-employed, a trend that was quickly shifting as a result of the Trust’s vigorous campaign tactics, which were intended to raise public awareness of the benefits of the SSNIT-run pension plan.
It has been stated unequivocally that the SSNIT program was intended to help all Ghanaian workers, not just those employed in the official sector.
A thorough 360-degree marketing communication strategy has been implemented to raise awareness of SEED, and it has been quite successful, with many new members signing up every day.
pension benefits
“Effective January 1, 2024, all pensioners on the SSNIT Pension Payroll as of December 31, 2023, have had their monthly pensions increased by 15 percent,” stated President Akufo-Addo in reference to the pension payments.
According to him, this meant that the highest-earning seniors would see an effective increase of 10.5%, while the lowest-earning pensioners would see an effective increase of 36.37%.