Deloitte Ghana has issued a strong call to businesses, employees, regulators, and policymakers to take immediate action toward securing their financial future, stressing that pension planning and social security compliance can no longer be treated as secondary concerns.
Speaking at a webinar themed “Securing Tomorrow Today,” Gloria Boye-Doku, Partner, Tax and Legal at Deloitte Ghana, emphasized that the future people aspire to enjoy depends largely on the decisions they make today.
According to her, pensions are not merely retirement arrangements but powerful tools that shape financial security, organizational trust, and long term economic resilience.
“The future is not an event that simply happens to us. Rather, it is shaped by the decisions, investments, and commitments we make today”.
Gloria Boye-Doku
Her remarks set the tone for a discussion that brought together key stakeholders from Ghana’s pension and social security industry to explore emerging trends, challenges, and opportunities within the sector.
Why Pension Knowledge Matters More Than Ever
As Ghana’s economy continues to evolve, employees are becoming increasingly interested in understanding how pension systems operate and what benefits they stand to receive after retirement.
Mrs. Boye-Doku stressed that informed participation in pension schemes is critical for both workers and employers.
“The reality is that social security and compliance affect every stage of our professional lives. They influence how we prepare for retirement, how organizations fulfil their obligations to employees, and how businesses build trust, resilience, and long-term sustainability”.
Gloria Boye-Doku
She further highlighted that a deeper understanding of pension rights and obligations can help workers make better financial decisions while enabling organizations to strengthen employee confidence and loyalty.
“As Ghana’s business environment continues to evolve, employees are becoming more interested in understanding how social security systems work, what benefits they are entitled to, and how today’s contributions can provide protection and security for tomorrow”.
Gloria Boye-Doku
The message resonated strongly amid growing concerns about retirement preparedness and financial literacy among Ghana’s working population.
Securing Tomorrow Requires Action Today
One of the strongest themes that emerged from the webinar was the need for deliberate and coordinated action by all stakeholders.
Mrs. Boye-Doku noted that securing a comfortable future is not something that happens automatically. Instead, it requires conscious effort, responsible governance, and sustained commitment from every participant within the pension ecosystem.
In her concluding remarks, she stated that the discussions had highlighted an undeniable reality. “Securing tomorrow is not a passive ambition—it is an active responsibility.”
She explained that regulators, fund managers, employers, and employees all have critical roles to play in ensuring that Ghana’s pension system remains strong, transparent, and sustainable.
Businesses, she said, must go beyond simply meeting compliance requirements and begin viewing pension contributions as a fundamental component of employee welfare and corporate responsibility.
For workers, especially young professionals, she urged greater engagement with retirement planning and pension management.
“Engage actively with your pension contributions, seek clarity, and make informed decisions today that will secure your tomorrow”.
Gloria Boye-Doku
Ghana’s Pension System Earns Global Praise
Adding a significant dimension to the discussion, the Director General of SSNIT, Kwesi Afreh Biney, revealed that Ghana’s pension scheme continues to perform strongly when compared with many advanced economies.
According to him, Ghana’s pension framework has earned favorable global rankings due to the benefits it provides contributors and the country’s efforts to expand pension coverage.
“Ghana’s 60% guaranteed pension right, that is if you do for 20 months and above, compares very, very favourably with the global numbers. The OECD [Organisation for Economic Co-operation and Development] numbers today are just a little above 52%. EU [European Union] on average is around 54%. There are countries like The Netherlands and the likes that are above 80%. But if you take the European Union average, it’s around 54%. We [Ghana] are actually better than the United Kingdom. We are better than Germany. We are better than the USA in terms of the guaranteed pension rights”.
Gloria Boye-Doku
His remarks underscored Ghana’s growing reputation as a country making significant strides in pension security and retirement protection.
SSNIT Eyes Informal Sector Expansion
Despite the positive performance, SSNIT believes there is still considerable room for growth, particularly within Ghana’s vast informal sector, which accounts for approximately 80 percent of the workforce.
Mr. Biney disclosed that the institution is developing additional strategies aimed at increasing pension participation among informal sector workers.
The move forms part of broader efforts to ensure that more Ghanaians enjoy financial protection during retirement, regardless of the nature of their employment.
The initiative is expected to complement existing measures already being implemented to expand pension accessibility and improve social security coverage nationwide.
Building Confidence for the Future
The webinar provided participants with a valuable platform to deepen their understanding of Ghana’s social security and compliance landscape while identifying practical solutions to common pension challenges.
With representatives from the National Pensions Regulatory Authority (NPRA), SSNIT, and other industry stakeholders contributing to the discussions, the event reinforced the importance of collaboration, transparency, and innovation in strengthening Ghana’s pension system.
As Deloitte Ghana continues its advocacy for better pension awareness and compliance, one message stood out clearly throughout the event: the future people desire depends on the actions they take today. For businesses and workers alike, securing tomorrow begins now.
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