Ghana's social security scheme clocked 60 years yesterday, marked by a call for prudent financial management and broader inclusion to ensure its long-term sustainability.Vice President, Professor Naana Jane Opoku-Agyemang, who launched the 60th anniversary celebration of the Social Security and National Insurance Trust (SSNIT), urged the institution to adopt sound investment practices and deepen stakeholder engagement.Under the theme "A Legacy of Service - 1965-2025", the event was chaired by Chief of Staff Julius Debrah and brought together key players from the public and private sectors, pensioners, contributors, and development partners.Addressing the gathering, Prof.
Opoku-Agyemang stressed the urgent need to extend pension coverage to the informal sector."The informal sector remains largely uncovered, denying millions the security they deserve.
Let us work to enrol as many of such workers as possible," she stated.She also urged SSNIT to embrace innovation in response to labour market trends such as automation, gig work, and remote employment."We must aim to make the scheme stronger, more equitable, and more sustainable.
Pensions must be demystified and rooted in the financial culture of the people," she added.On governance, she expressed confidence in the SSNIT Board, stating:"I am confident that the current board will continue to work diligently and leverage their wealth of experience so that the SSNIT scheme remains robust, transparent, and responsive to the needs of its members."SSNIT's Director-General, Mr Kwesi Afreh Biney, highlighted the Trust's growth and the impact of key investments that have contributed to national development."We honour a vision that has become a reality for millions - a vision built on resilience, shaped by service, and sustained by trust," he said.He cited notable investments such as over 4,250 student beds across six public universities, 9,600 housing units, a 126-megawatt power contribution to the national grid, and GH¢2.42 billion invested in Ghana's financial sector."From humble roots to a national pillar, social security in Ghana has matured from a provident fund in 1965 to the robust three-tier pension system we operate today," Mr Biney added.He acknowledged previous challenges but noted that reforms had significantly improved service delivery, including cutting pension processing time from weeks to under 10 working days.Board Chairman Nana Ansah Sasraku III reaffirmed the Board's commitment to strengthening the scheme through responsible investments and effective governance.Representatives from the National Pensioners Association, the Industrial and Commercial Workers Union, and the Trades Union Congress lauded SSNIT for its pivotal role in protecting Ghanaian workers over the past six decades.