A former Minister of Education and former Editor of the Daily Graphic, Ms Elizabeth Akua Ohene has been appointed the Chairman of the Board of the Social Security and National Insurance Trust (SSNIT) by President Nana Addo Dankwa Akufo-Addo.
The Minister of Finance, Mr Ken Ofori-Atta, who inaugurated the 13-member SSNIT Board said it needed to act in the interest of contributors by delivering a strong scheme capable of meeting the aspirations of the workforce.
He observed that under the leadership of the previous board, there was a holistic restructuring of the operations and the benefits divisions of the trust.
Mr Ofori-Atta added that the trust prioritised the use of data analytics to drive operational excellence and decision-making, saying: “As it stands, there is a data management unit at each SSNIT branch.”
As of December last, the unaudited financial report of SSNIT showed an increase in net assets from GH¢8.05 billion in 2016 to GH¢11.35 billion, he said.
Net contributions also grew from GH¢1.51 billion in 2016 to GH¢4.17 billion at the end of last year, he added.
“I believe the task for the reconstituted board is laid out clearly. Unlike the previous board, you are taking over a trust that has become increasingly transparent, with improved relationships with its stakeholders that pursue optimal investment opportunities.
“You must work together to go beyond your predecessors and align your activities with our three Cs (completion, consolidation and continuity),” Mr Ofori-Atta said.
Ms Ohene said the new trustees would make decisions in the best interest of beneficiaries of and contributors to SSNIT.
“As new members of the board, we are fully aware that Ghanaian workers are also entrusting their future to us. There are about 250,000 pensioners who expect us to manage the trust to ensure that their pension will be uninterrupted and have a reasonable value for the rest of their lives,” she said.
“We will stay faithful to the tenets of Act 766 and ensure that all stakeholders are involved while being aware of changing needs and aspirations, going forward,” she added.