SSNIT opens 52nd branch at Spintex, unveils virtual platform

The Social Security and National Insurance Trust (SSNIT) has opened its 52nd branch. This new branch is located at Takyi Plaza, Spintex. It aims to expand coverage and improve service accessibility for members.

The branch was commissioned on Monday, May 19. It is situated in a busy business area to offer convenience to clients. SSNIT hopes this will encourage more engagement in retirement planning.

At the opening ceremony, SSNIT Director-General Mr. Kwesi Afreh Biney spoke about their commitment. He emphasized the need to expand coverage and provide accessible touchpoints for clients. “We want to bring convenience to the people we serve,” he stated.

In a significant development, SSNIT announced a virtual branch. This allows clients to access all services online. “You can call in and get assistance from our team 24/7,” Mr. Biney explained.

This virtual branch complements existing digital platforms like the website and mobile app. Members can access services anytime from anywhere.

Mr. Biney addressed Ghana’s retirement age, currently set at 60 years. He noted that other countries have raised their retirement ages but stressed local consultations are needed for any changes. “Life expectancy has increased; we must consider employment issues,” he said.

He highlighted the importance of balancing job opportunities for youth with the needs of an aging population. For now, SSNIT focuses on expanding coverage and improving service delivery.

Mr. Biney also discussed efforts to increase pension payouts through annual indexation processes. This considers inflation rates, investment returns, and member contributions.

To support these efforts, SSNIT is optimizing its investment portfolio by investing in high-performing assets. “First income securities have yielded good returns for us,” he noted.

Additionally, they are working on transforming non-performing assets into profitable ones for sustainable returns for pensioners.