The Social Security and National Insurance Trust (SSNIT) has launched a Member Value Programme (MVP) aimed at providing contributors and pensioners with practical benefits beyond retirement as part of efforts to improve member experience and also attract more informal sector workers.
The programme, launched in partnership with Ecobank Ghana, introduces a free co-branded Visa card that enables SSNIT members and pensioners to access digital healthcare services, enjoy discounts from partner businesses and make secure cashless payments locally and internationally at no cost.
At the launch in Accra, the Director-General of SSNIT, Kwesi Afreh Biney, said the initiative marked a major shift in the country's social security administration by focusing not only on securing retirement income but also improving members' quality of life while they remained economically active.
Protecting tomorrow, adding value today
Mr Biney said while SSNIT's core responsibility remained protecting workers' retirement income, changing workplace dynamics and growing customer expectations required the institution to offer greater value throughout members' working lives.
He explained that contributors wanted an institution that remained relevant, understood their needs and delivered practical solutions before retirement.
"If workers entrust us with their future security, then their membership should also feel valuable in the present," he said.
Mr Biney said the MVP would provide members access to a growing network of trusted partners offering discounts and services in key areas of daily life, making SSNIT membership more rewarding beyond pension contributions and benefit payments.
He added that the programme would strengthen engagement with contributors while making the scheme more attractive to workers yet to enrol.
Informal sector focus
He said the initiative had become necessary because about 80 per cent of Ghana's workforce operated outside formal employment and the social security system.
He stated that expanding pension coverage required the institution to respond to the realities of how people lived and worked today.
“The programme supported government's broader agenda of strengthening public institutions through improved service delivery while helping to deepen financial inclusion,” he explained.
Mr Biney expressed appreciation to Ecobank Ghana, describing the bank as the Trust's first strategic partner in implementing the programme.
He also acknowledged the support of the National Pensions Regulatory Authority (NPRA) and the Bank of Ghana in creating the regulatory framework for the initiative.
Economic recovery and pension reforms
The Deputy Minister of Finance, Thomas Nyarko Ampem, said Ghana's improving macroeconomic environment had created the right conditions for strengthening the country's pension system.
He said declining inflation, renewed investor confidence and improving economic fundamentals were expected to support sustainable pension reforms and improve retirement outcomes.
The deputy minister disclosed that the government had initiated a comprehensive review of Ghana's pension system to improve adequacy, sustainability, coverage and value, with particular attention to workers in the informal sector.
"There can be no sustainable pension system without a stable economy, and there can be no resilient economy without strong domestic savings mobilised through trusted institutions such as SSNIT," he stressed.
He said the government remained committed to reforms that would strengthen governance, protect contributors and reinforce public confidence in the pension system.
Innovation and accountability
Mr Ampem commended SSNIT for introducing the MVP, saying it extended meaningful value to contributors and pensioners beyond retirement through strategic partnerships.
He said while contributors would enjoy immediate benefits during their working lives, pensioners would equally experience improved quality of life through access to services and discounts.
He, however, stressed that innovation must always be accompanied by sound governance, transparency and accountability, adding that the savings entrusted to SSNIT belonged to Ghanaian workers and must always be managed prudently and in their long-term interest.
"Every successful pension system rests on one indispensable foundation, and that is trust," he emphasised.
Free Visa card
As part of the initiative, Ecobank Ghana will issue Visa cards to all SSNIT contributors and pensioners for free.
The cards will allow members to access healthcare services digitally, make secure purchases around the world and enjoy discounts from participating businesses under the MVP.
