Finance Minister Dr. Cassiel Ato Forson has officially inaugurated a new Board of Trustees for the Social Security and National Insurance Trust (SSNIT), urging members to uphold the highest standards of integrity, transparency, and accountability.
Speaking at the swearing-in ceremony held in Accra, Dr. Forson stressed the indispensable role SSNIT plays in the country’s social protection framework, describing it as an institution that safeguards the future of every Ghanaian worker.
“SSNIT is an institution we will all need one day—when we retire,” he reminded the Board. “Ghanaians have entrusted their future into your hands, and your actions must reflect the seriousness of that responsibility.”
In his address, Dr. Forson raised concerns about past investment decisions made by the Trust, suggesting that some of them may not have served the best interests of contributors. He challenged the new board to learn from past mistakes and take a new, responsible direction in managing SSNIT’s resources.
Of particular concern was the potential sale of state assets to politically connected individuals. Dr. Forson issued a stern warning: “Please don’t sell state assets to politicians. The President will not accept it, and as your sector Minister, I will be the first to oppose it.” The Finance Minister’s remarks underscore the need for impartiality and fairness in the management of public assets, especially those related to workers’ pensions.
Government Commitment to SSNIT
To assure the new trustees of governmental backing, Dr. Forson announced that the government is up to date on all payments due to SSNIT. He further pledged continued support from the Ministry of Finance to ensure that the Fund remains financially stable and effective in fulfilling its mandate.
This commitment is vital, given that SSNIT plays a central role in the provision of retirement benefits and social security for formal sector workers in Ghana. The Fund’s efficiency and credibility depend not only on its investment strategies but also on consistent and adequate contributions from both government and private sector employers.
Nana Ansah Sasraku III, who chairs the newly inaugurated Board, expressed confidence in the ability of the team to deliver on its mandate. “We are prepared, united, and committed to ensure that the trust resources are managed with integrity and foresight,” he stated.
He acknowledged the significant task ahead and affirmed that the board would work collectively to restore confidence in the Trust and improve its operational efficiency. With a renewed focus on transparency and accountability, the board aims to rebuild public trust and ensure SSNIT fulfils its mission.
The new SSNIT Board of Trustees is composed of individuals with diverse backgrounds and expertise, including legislators, financial experts, and professionals from various sectors. Members include:
- Nana Ansah Sasraku III – Chairperson
- Thomas Nyarko Ampem, MP – Member
- Mr. Kwesi Afreh Biney – Member
- Ms. Ama Serwaa Bonsu – Member
- Mr. Michael Bozumbil – Member
- Dr. Emmanuel Adu-Sarkodee – Member
- Mr. Abdul-Moomin Gbana – Member
- Ms. Salamatu Braimah Mahama – Member
- Mr. Thomas Tanko Musah – Member
- Mr. Benjamin Arkaah Otoo – Member
- Dr. Frank A. Odoom – Member
- Ms. Gifty Adishetu Mahama Biyira – Member
This composition reflects a commitment to inclusivity and professional competence, crucial for the effective governance of SSNIT.
The inauguration of the new SSNIT Board comes at a critical time when public confidence in state institutions is under scrutiny. With renewed governmental support and a strong call to action from the Finance Minister, the Board now has the mandate and backing to chart a responsible course for the Trust.
The challenge, however, lies in translating these commitments into results—ensuring the judicious use of pension funds, resisting political interference, and safeguarding the retirement security of Ghanaian workers.
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