SSNIT at a Glance

The Social Security and National Insurance Trust (SSNIT) is a statutory public Trust charged with the administration of Ghana's National Pension Scheme. The Trust is currently the biggest non-bank financial institution in the country.

It's primary responsibility is to replace part of lost income due to Old Age, Invalidity and payment of Survivors' benefits to deceased dependants.

The Pension Scheme administered by SSNIT has a registered active membership of over 1.2 million and over 140, 000 pensioners who collect their monthly pension from SSNIT.

The Social Security and National Insurance Trust (SSNIT) is governed by the National Pensions Act 2008, (Act 766) which has a contributory 3-tier Pension Scheme with SSNIT operating the Mandatory first-tier scheme.
The contribution rates are

  • Employers - 13% of workers basic salary
  • Workers - 5.5% of workers basic salary
  • Total 18.5%. Of this 13.5% is remitted to Mandatory first tier managed by SSNIT and 5% to the Mandatory second tier privately managed occupational scheme.

Core functions of the Trust:

  • Be responsible for the general administration of the Social Security Scheme and any regulations under it.
  • Provide income protection for the contributors under specified contingencies, e.g. Superannuation Pension, Invalidity Pension and Survivor's Lump sum, and such other contingencies as may be specified by Law.
  • Be responsible for the management of the fund and
    Carry out any other activities incidental to the realisation of its objectives.

The core business activities are decentralized with most of the functions carried out in 50 Branches, monitored by eight (8) Area Offices and supervised by the Operations Co-ordinator. The Management of the fund is at the Head Office.

The scheme is self-financing through the contributions of members and returns on the investments of the funds.  The contribution rate is 18.5% (worker - 5.5%, employer 13.0%) of the earnings of a member.

The Trust has been in Social Security Business since 1965. In 1998 it won the "Good Corporate Citizen Award". It is a member of the International Social Security Association (ISSA) which is affiliated to the International Labour Organisation (ILO). The Trust is the first Social Security Organisation to go Pension in Africa South of the Sahara.