The Social Security and National Insurance Trust (SSNIT) will expand its bank co-location service points from 15 to 100 by the end of 2027. This significant increase aims to improve access to pension services across Ghana.
This initiative seeks to bring SSNIT services closer to contributors and pensioners. It will also reduce the cost of establishing standalone SSNIT offices. The expansion is a strategic move to increase membership and ensure the long-term sustainability of the national pension scheme.
This expansion aligns with Ghana's broader economic goal of financial inclusion and social protection. Many Ghanaians, especially in rural areas, face challenges accessing essential services. SSNIT's move to decentralise its operations through co-location points addresses this gap. It supports the government's efforts to formalise the informal sector and provide social security benefits to a wider population.
Mr. Kwesi Afreh Biney, Director-General of SSNIT, confirmed this expansion during a courtesy call from officials of the Ghana News Agency (GNA). He explained that the co-location programme is a strategic priority. "If you are at Akosombo, you no longer need to move to Somanya for SSNIT services; you go to GCB Akosombo, and we are there to serve you," Mr. Biney stated. He added that by the end of 2027, SSNIT expects to have approximately 100 co-location points, bringing services closer to people.
The expansion is expected to significantly boost SSNIT's membership, particularly among informal sector workers. Increased membership will strengthen the pension fund's financial base. This will ensure that future retirees receive their benefits promptly and adequately. Decision-makers and financial markets will closely watch the impact of this expansion on SSNIT's asset growth and overall financial health.
SSNIT is also introducing services beyond core pension administration to make participation more attractive. These include simplified contribution collection through WhatsApp. The Trust has also negotiated discounts of between 5 and 30 percent with 49 partner businesses. These partners include airlines, health facilities, shopping centres, bridal shops, and food and beverage companies. These additional benefits aim to provide more value to members.
Regarding the informal sector, Mr. Biney noted that SSNIT has implemented targeted strategies in recent years. These strategies aim to enrol traders, artisans, and other workers. Approximately 55,000 new members have been reached year-to-date through these efforts. This focus on the informal sector is crucial for expanding social security coverage in Ghana.
Officials from GNA and SSNIT have agreed to maintain regular engagement. This collaboration aims to strengthen public education and institutional cooperation. Mr. Albert Kofi Owusu, General Manager of GNA, welcomed SSNIT’s expansion drive. He pledged GNA's support through its network of regional and district reporters. This network will help disseminate information about new SSNIT services and gather public feedback. GNA's modernisation programme will also enable it to produce videos and infographics to support public education.