Dr. John Ofori-Tenkorang, the Director-General of the Social Security and National Insurance Trust (SSNIT), has reaffirmed SSNIT’s unwavering commitment to eradicating old-age poverty in Ghana through the implementation of the Self-Employed Enrolment Drive (SEED) initiative.
The initiative encourages all active individuals, including those in the informal sector under the Trade Union Congress (TUC), to enrol in SSNIT’s schemes to secure their future financial well-being.
Dr. Ofori-Tenkorang emphasised the importance of contributing to the SSNIT scheme during one’s active working years as the most reliable way to invest in the future and avoid overreliance on family, children or government assistance during retirement or unexpected accidents.
“We encourage everyone, including those in the informal sector under the Trade Union Congress (TUC), to enrol in the Self-Employed Enrolment Drive (SEED) to enjoy social security protection during retirement,” he stated.
In addition to the retirement benefits, members are entitled to invalidity pensions, survival lump sums, emigration benefits, disability support, and free access to the National Health Insurance Scheme, all of which contribute to a more secure life during retirement.
These statements were made during the 2023 SSNIT/TUC regional SEED forum held in Tamale, which focused on engaging the informal sector, acknowledging their role in economic development and educating them on the importance of saving a portion of their earnings with SSNIT to ensure their financial security in retirement.
The SEED initiative targets self-employed individuals and formal sector workers, urging them to make regular contributions to the SSNIT scheme based on their full earnings. According to Dr. Ofori-Tenkorang, SSNIT’s tier one serves as the foundation for building a prosperous future before moving on to tiers two and three.
“When we began the campaign in 2022, only 14,000 active contributors were self-employed. Now, this number has risen to 39,000, demonstrating the effectiveness of our advocacy efforts,” he highlighted.
Dr. Ofori-Tenkorang pointed out that SSNIT plays a foundational role in all pension schemes, and this initiative aims to empower more self-employed individuals to enrol in SEED and secure their financial future.
Mr. Joshua Ansah, Deputy Secretary-General of TUC, praised SSNIT for including the informal sector in its scheme, recognising their vital contribution to Ghana’s economic growth. He noted that the informal sector had often been overlooked in decision-making processes, but SSNIT’s actions have brought hope to this segment of the workforce.
Many individuals in the informal sector retire without adequate financial security and often rely on family and friends for support, leading to frustration and hardship. Mr. Ansah pledged TUC’s continued partnership with SSNIT to encourage more informal sector workers to enrol in the SEED scheme.
During the forum, some participants raised concerns about potential loopholes in the enrolment process and urged SSNIT to address these issues to facilitate a smoother registration experience.
The event brought together leaders and members from various organisations, including the Ghana Beauticians and Hairdressers Association, Ghana Private Road Transport Union, mechanics, electricians, persons with disabilities, shea nut traders and processors, among others, to discuss the SEED initiative and its implications for Ghana’s informal workforce.
