The Social Security and National Insurance Trust (SSNIT) has announced a three-year strategic drive to expand its active contributor base to 2.8 million by 2028, aiming to safeguard the long-term solvency of Ghana’s national pension scheme.
Speaking at a stakeholder engagement with organized labor on Tuesday, SSNIT Director-General Kwesi Afreh Biney revealed that active membership reached 2,179,295 by the end of July 2026. Under its updated corporate plan, the Trust aims to enrol an average of 300,000 new contributors annually over the next three years.
Surge in Assets Under Management
The membership expansion comes alongside robust financial growth. SSNIT’s Assets Under Management (AUM) rose to GH¢35.4 billion at the end of June 2026, up from GH¢28.47 billion at the close of 2025.
Equities: Account for GH¢21 billion, representing 59% of the portfolio.
Fixed Income: Accounts for 22% of investments.
Real Estate: Comprises 18% of the trust's holdings.
Alternative Investments: Make up the remaining 1.2%.
Informal Sector & Modern Workforces
A central focus of SSNIT’s growth strategy is tapping into the informal sector, which accounts for over 80 percent of Ghana’s working population.
Mr. Biney emphasized that adapting to changing employment trends—such as gig work, remote jobs, tech freelancing, and digital entrepreneurship—is vital for the pension scheme's future relevance.
To improve accessibility for self-employed individuals and workers in remote regions, SSNIT launched a 24-hour virtual branch in late 2025 and established 15 co-location service points in partner commercial banks (including Ecobank, Fidelity Bank, GCB Bank, and CBG). The Trust plans to scale co-location access to 100 banking halls nationwide by late 2027.
Long-Term Actuarial Solvency
Addressing concerns regarding the long-term sustainability of the fund, Mr. Biney highlighted that recent active membership growth—averaging 8 percent annually—has outpaced the 5 percent baseline assumption used in official actuarial valuations.
He noted that if contribution compliance rates reach 100 percent, projections indicate the fund will remain secure beyond the next 50 years without requiring drastic structural adjustments.
Call for Stakeholder Collaboration
Nana Ansah Sasraku III, Chairman of the SSNIT Board of Trustees, urged organized labor, employers, and government agencies to support enrolment and compliance efforts.
"Social security is not sustained by institutions alone; it is sustained by trust," Nana Ansah Sasraku III stated, emphasizing that securing retirement for non-traditional workers requires transparent management and ongoing dialogue across all economic sectors.
