Kofi Bosompem Osafo-Maafo, the Director-General of the Social Security and National Insurance Trust (SSNIT), has highlighted the accomplishments of the current management in enhancing the trust’s performance.
He stated that these improvements have been driven by three key pillars: ensuring the scheme’s sustainability, adopting cutting-edge technology, and guaranteeing adequate benefits.
These strategies, he emphasized, are vital for maintaining the scheme’s long-term viability.
Speaking at the 2024 Annual Operations and Benefits Conference in Elmina, Central Region, Osafo-Maafo noted that the event is aimed at developing strategies to broaden the scheme’s coverage while leveraging appropriate technologies.
Despite the steady improvement in contributions from both the private and public sectors, the Director-General expressed concern over the outstanding debts owed to the trust by public sector institutions.
“From management’s perspective, the strategic direction of this institution is based on three pillars. The sustainability of the scheme and its improvement. Indeed, we have made significant strides in improving the sustainability of the scheme.
This is going to be done through the expansion of coverage, enforcement of compliance, prudent investment of funds and responsible governance of the Trust and its investments.
“Secondly, the adoption of state-of-the-art technology for the management and maintenance of accurate and complete data, reliable financial data on members and also for improving our efficiency. And indeed, for those who have been here long enough, I think that there is good evidence that technology has definitely improved. I think if you were to look ten years ago, if you were going out you needed a pickup truck and four or five people or more to carry the various boxes across,” he stated.
He continued “Today, that task is not as arduous and in fact, I believe that our MIS team are going to ensure that all you will require in the future, you could probably put in your pocket or put in a very small bag and you could get going. The third pillar is to ensure benefits are adequate.
“We’ve taken significant strides to ensure that this aspect has improved significantly. Indeed, if we look at the data that we have for the private sector, the public sector, and also total contributions, there have been marked improvements. But as I always say, we can always do better and each year, we must strive to do better.”
