The Social Security and National Insurance Trust (SSNIT) has experienced a remarkable surge in the number of self-employed individuals joining the tier-one pension scheme over the last two quarters of the year. The count has skyrocketed from approximately 14,200 in May this year to over 57,000 as of last month, with more individuals poised to join in the near future. Dr. John Ofori-Tenkorang, the Director-General of SSNIT, attributes this feat to an assertive campaign undertaken by the management of the state-run pension scheme. This campaign is focused on encouraging a substantial number of workers within the informal sector of the economy to enroll in the scheme.
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The Director-General emphasized that despite enrolling tens of thousands of self-employed individuals in a short span, the task ahead remains challenging. He stated, "We will not ease up but will persist in intensifying our efforts to bolster the numbers, aiming to reach hundreds of thousands and even millions as per our strategic plan, motivated by the immense potential."
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According to the National Pensions Regulatory Authority (NPRA), an estimated 600,000 out of the 6.7 million self-employed people in the country have some form of pension cover. This suggests that a staggering 6.1 million self-employed persons are without any form of pension cover. Dr. Ofori-Tenkorang expressed acknowledgment of the substantial number of self-employed persons not yet enrolled in the scheme. However, he remains optimistic about the impact of SSNIT's initiatives to demystify the pension scheme, expecting more people to join.
SSNIT, under the leadership of its management, recently concluded a comprehensive awareness campaign across the nation in collaboration with the Trades Union Congress (TUC) aimed at educating self-employed individuals on the benefits of joining the pension scheme.
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Earlier this year, SSNIT launched a special program called the Self-Employed Enrolment Drive (SEED) to expand pension coverage to all workers, including the self-employed. Praised as a positive step, SEED is anticipated to redefine social security in the country and offer hope to the self-employed, demonstrating that they too can retire with dignity and comfort without being excessively reliant on their families and loved ones.
Dr. Ofori-Tenkorang justified SSNIT's emphasis on the self-employed by highlighting the equality of needs in retirement. He posited that regardless of whether individuals worked in an office, sold goods on the streets, or managed shops, their retirement needs are fundamentally the same. Therefore, he stressed the importance of extending similar retirement provisions to those working in the so-called informal sector. Dr. Ofori-Tenkorang concluded, "Because of our determination to reshape the future for this group of workers (the self-employed), we have championed this aggressive campaign."
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