Ghana's Pension Scheme Ranks Favourably Globally

The single sharpest fact in this story is that Ghana's pension scheme has ranked favourably globally, with Deloitte saying it's doing something right as it extends pension to the informal economy aggressively.

Deloitte Ghana has indicated its readiness to help businesses and workers to reshape their perspectives on pensions, build confidence, and ultimately empower them alike to take deliberate steps toward securing their future. Speaking at a webinar on the theme “Securing Tomorrow Today,” Gloria Boye-Doku, Partner, Tax and Legal, said “the future is not an event that simply happens to us. Rather, it is shaped by the decisions, investments, and commitments we make today”. She pointed out that the quality of the future is shaped by the depth of understanding today and the actions taken to secure the future.

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 numbers today are just a little above 52%. EU 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”.

The Director General of SSNIT, Kwesi Afreh Biney, said Ghana's pension scheme is doing very well. He highlighted that SSNIT is extending pension to the informal economy aggressively, noting that it is an important step in securing the future of the people. According to him, the current pension scheme is designed to cater for both the formal and informal sectors, ensuring that every segment of the society has access to social security.

Kwesi Afreh Biney also stated that SSNIT is developing an additional plan to complement existing strategies to help easily penetrate the sector, made up of 80% of the working population. The development of this plan is a key step in ensuring that the informal sector is included in the social security system.

The webinar provided an opportunity for participants to deepen their understanding of Ghana’s social security and compliance landscape, explore emerging developments, address common challenges, and identify practical actions that can help both employers and employees make informed decisions. The speakers cut across the pension industry, including representatives of the National Pensions and Regulatory Authority (NPRA) and SSNIT.

It requires deliberate action from all stakeholders—regulators, fund managers, employers, and employees alike.

Securing tomorrow is not a passive ambition—it is an active responsibility.

The single sharpest fact in this story makes Ghana's pension scheme stand out globally. The country has achieved a 60% guaranteed pension right, which is higher than the OECD average and even some developed countries like the UK, Germany, and the USA.

The Director General of SSNIT, Kwesi Afreh Biney, has been at the helm of the organization for a while, and has been instrumental in the implementation of various initiatives aimed at improving the pension scheme.

Ghana’s pension scheme has been ranked favourably globally, and Deloitte is ready to help businesses and workers reshape their perspectives on pensions. The scheme has achieved a 60% guaranteed pension right, which is higher than the OECD average and even some developed countries like the UK, Germany, and the USA.

The Director General of SSNIT, Kwesi Afreh Biney, has been pushing for the inclusion of the informal sector in the social security system. He noted that SSNIT is developing an additional plan to complement existing strategies to help easily penetrate the sector, made up of 80% of the working population.

Ghana’s pension scheme has achieved a 60% guaranteed pension right, and Deloitte is ready to help businesses and workers reshape their perspectives on pensions. The scheme has been ranked favourably globally, and the Director General of SSNIT, Kwesi Afreh Biney, has been pushing for the inclusion of the informal sector in the social security system.

The inclusion of the informal sector in the social security system is seen as a key step in securing the future of the people. It is estimated that 80% of the working population are in the informal sector, and including them in the social security system will ensure that every segment of the society has access to social security.

The Director General of SSNIT, Kwesi Afreh Biney, has been instrumental in the implementation of various initiatives aimed at improving the pension scheme. He has been pushing for the inclusion of the informal sector in the social security system.

Ghana’s pension scheme has achieved a 60% guaranteed pension right, and Deloitte is ready to help businesses and workers reshape their perspectives on pensions. The scheme has been ranked favourably globally, and the Director General of SSNIT, Kwesi Afreh Biney, has been pushing for the inclusion of the informal sector in the social security system.

The webinar provided an opportunity for participants to deepen their understanding of Ghana’s social security and compliance landscape. The speakers cut across the pension industry, including representatives of the National Pensions and Regulatory Authority (NPRA) and SSNIT.

Ghana’s pension scheme has achieved a 60% guaranteed pension right, and Deloitte is ready to help businesses and workers reshape their perspectives on pensions. The scheme has been ranked favourably globally, and the Director General of SSNIT, Kwesi Afreh Biney, has been pushing for the inclusion of the informal sector in the social security system.

Ghana’s pension scheme has achieved a 60% guaranteed pension right, and Deloitte is ready to help businesses and workers reshape their perspectives on pensions. The scheme has been ranked favourably globally, and the Director General of SSNIT, Kwesi Afreh Biney, has been pushing for the inclusion of the informal sector in the social security system.

The webinar was an opportunity for participants to deepen their understanding of Ghana’s social security and compliance landscape. The speakers cut across the pension industry, including representatives of the National Pensions and Regulatory Authority (NPRA) and SSNIT.

Kwesi Afreh Biney has been at the helm of SSNIT for a while and has been instrumental in the implementation of various initiatives aimed at improving the pension scheme.

Ghana’s pension scheme has achieved a 60% guaranteed pension right, and Deloitte is ready to help businesses and workers reshape their perspectives on pensions. The scheme has been ranked favourably globally, and the Director General of SSNIT, Kwesi Afreh Biney, has been pushing for the inclusion of the informal sector in the social security system.

Ghana’s pension scheme has been ranked favourably globally, and Deloitte is ready to help businesses and workers reshape their perspectives on pensions. The scheme has achieved a 60% guaranteed pension right, higher than the OECD average and even some developed countries like the UK, Germany, and the USA.