The Director General of the Social Security and National Insurance Trust (SSNIT), Kwesi Afreh Biney, has revealed that the pension scheme is sustainable and can even pay benefits for the next 40 years.

Mr. Biney noted that this is based on the latest actuarial report carried out by the UK Government Department of Actuarial Services on the sustainability of the SSNIT pension scheme.

The Director General disclosed this on PM EXPRESSS BUSINESS EDITION with host George Wiafe on June 4 2026.

The assurance by the SSNIT Director General followed a recent report by the International Labour Organisation that raised serious concerns about the sustainability of the SSNIT pension scheme.

This has led to a push for some drastic reforms to deal with the sustainability concerns first raised by the ILO report.

But Mr. Afreh Biney said the latest assessment by another independent institution shows that the contributors funds are in strong hands, adding that “there is no need for anyone to be worried”.

“We are required to have an external actuarial assessment every three years and SSNIT is due for another in 2027, and I believe that will even move us into safe waters,” the Director General of SSNIT added.

According to him, the sustainability assurance is also based on the fact that SSNIT has taken measures to improve the contributors to the scheme as well as the government contribution.

“These developments have also gone a long way to deal with immediate and future liquidity concerns of the SSNIT pension scheme”, he added.

On the growing scheme, the Director General revealed that SSNIT is considering several options to attract contributors, especially those in the informal sector.

“Now these persons will come, when they see what is happening to the current contributors and that is why we are looking at offering more value proposition to the current contributors to the scheme, the Director General revealed.

On whether the pension rate should increase as well as the pension age extended, Mr. Biney said it is neither a yes or no, but rather a careful or a stakeholder engagement to address the issue.

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SSNIT pension scheme is secure and can pay benefits for next 40 years – Director General

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