SSNIT targets informal sector workers with SEED initiative

Mr Ofori-Tenkorang addressing participants

 The Director General of Social Security and National Insurance Trust (SSNIT), Dr John Ofori-Tenko­rang has asked self-employed persons in the informal sector to enroll to the Self-Employed Enrollment Drive (SEED) scheme to alleviate financial hardships in future.

He said SEED was a tier one product that has been repack­aged to encourage self-em­ployed persons to contribute regularly on their full earnings for a guaranteed pension.

Dr Ofori-Tenkorang made the call at a regional educa­tion forum with self-employed persons in the informal sector at Wa in the Upper West Re­gion on Thursday.

He explained that the engagement was to equip the informal sector workers with information about the SEED initiative to enable them enroll onto the scheme and also spread the information to their colleagues.

Outlining some of the bene­fits of SEED, the Director-Gen­eral said it would provide a regular flow of financial sup­port to the contributor after retirement from active work or during a permanent disabil­ity as well as a life insurance policy of a lump-sum that was paid to beneficiaries in case the contributor passed away.

He explained that the lump-sum was computed based on the individual’s contributions to the Social Security and Na­tional Insurance Trust (SSNIT) during their lifetime.

“I encourage every one of you to enroll on the scheme; it is the surest way to reduc­ing and preventing poverty among all,” he stressed.

Dr Ofori-Tenkorang said SSNIT aims at eradicating poverty in the country by ensuring active participation of informal sector workers through its SEED initiative.

He said if the informal sec­tor workers had basic knowl­edge about what the SSNIT scheme offered them, they would gladly join the scheme, hence the need for the sensi­tisation.

Self-employed persons, he noted were entitled to the same benefits as formal sec­tor workers as long as they were committed with their monthly contributions and paid regularly as well.

Dr Ofori-Tenkorang add­ed that management of the Pensions Scheme had made it easier for the informal sector to be able to make their contributions through mobile money payment due to the nature of their businesses.

He said only two per cent of self-employed persons out of 1.9 million Ghanaian workers have registered with SSNIT, stressing that it was sad and needed to be ad­dressed.

Participants at the pro­gramme included members of the dressmakers, hairdress­ers, beauticians, weavers and tailors associations and also market women.

 From Rafia Abdul Razak, Wa