The Social Security and National Insurance Trust (SSNIT) has saved GHC550,393,372.58 million,  as of June 2024, through its deactivation of pensioners mechanism.

The amount was saved from the deactivation of pensioners aged 72 and above who failed to renew their Pensioner’s Certificates.

Delivering the keynote address at the launch of the week-long 2024 SSNIT Mobile Service Week at Elmina, the Director-General of the Trust, Kofi Osafo-Maafo, disclosed that the mechanism ensured that pensions were paid only to living pensioners over 72 years.

“Those who do not comply are considered deceased, and their names are removed from the pensioners’ payroll,” he explained, noting that “anytime such pensioners renew their Pensioner Certificates, their accounts would be re-activated and arrears paid to them.”

Mr Kofi Osafo-Maafo assured the citizenry of the commitment of his outfit to manage their monies prudently.

“I want to assure you of my commitment to ensuring that the Scheme remains robust for future generations. Once again, we will manage the Trust’s investments prudently to ensure the long-term sustainability of the Scheme and fulfill our mandate to provide social security protection for every worker in Ghana,” he stressed.

In efforts to have more people enrol on the scheme, the SSNIT boss outlined some initiatives undertaken, which include the introduction of the SSNIT Digital Bouquet, as well as the Self-Employed Enrolment Drive (SEED) which aims to extend pension coverage to self-employed persons and informal sector workers.

Under the SEED, the Trust has seen a remarkable increase in enrolment, with over 100,000 self-employed workers joining the SSNIT Scheme within a year, representing a 700% increase from the 13,000 workers signed up in 2023.

“Of the 6.7 million self-employed workers in Ghana, only about 100,000 are covered by SSNIT, which is just 3.2% of those who qualify. We intend to sign up as many more from the informal sector as we can,” he stated, urging more workers to enroll in the SSNIT Scheme to secure their financial future.

In her remarks, the Area Manager for Takoradi, Gifty Turkson, expressed optimism about the impact of these digital innovations on service delivery.

“The SSNIT Digital Bouquet will significantly improve the ease with which members and clients transact business with us. We are confident that this will enhance the overall customer experience and encourage more people to engage with SSNIT,” she said.