SSNIT Pension Scheme has accumulated a total of ₵6.8 billion in contributions, as reported in SSNIT's operational summary for the year 2023.

Contribution collections for 2023, showed about a billion cedis jump from the ₵5.8 billion collected in 2022. In 2021, contributions stood at ₵4 billion while in 2020 SSNIT mobilized ₵5 billion.

The 2023 operations report showed that, private sector contributions stood at ₵4 billion as against a target of ₵3.5 billion. This represents 113.9 percent of its performance.

By December 2023, contributions from the public sector totaled ₵2.8 billion, falling short of the ₵4.8 billion target, achieving 66 percent of the expected contributions.

During the same period, SSNIT disbursed ₵5.4 billion in benefit payments, resulting in a surplus of ₵1.4 billion.

In 2022, total benefit payments amounted to ₵4.1 billion, while in 2021, it was ₵3.6 billion.

State of Membership

The figures indicated that active membership reached 1.9 million, demonstrating notable growth compared to previous years.

According Managers of the scheme, the company was able to retrieve ₵284 million in of arrears.

Sustaining the Performance

The company's management has committed to adopting strategies aimed at enhancing the scheme's growth. These initiatives include:

Promoting and educating stakeholders, including self-employed individuals, on the use of the Trust's digital platforms for making contributions.

Partnering with the Office of the Director General to engage prominent employers or quasi-governmental organizations with outstanding debts to recover funds.

Increasing efforts to enroll new SEED members and ensuring timely payment processing.