KOFORIDUA: The Social Security and National Insurance Trust (SSNIT) has affirmed its financial strength and commitment to pensioners, addressing concerns about the sustainability of its pension scheme. Kofi Osafo Maafo, SSNIT's Director-General, assured stakeholders that the organization is well-positioned to meet its obligations, despite a report from the International Labour Organization (ILO) forecasting potential reserve depletion by 2036. According to Ghana News Agency, Mr. Maafo made these assurances during the "Pensioners' Engagement 2024" event in Koforidua. He emphasized that SSNIT has consistently fulfilled its pension payment commitments since its inception. "As of August this year, SSNIT disbursed more than GHS3.7 billion to over 250,000 retired workers, with projections to exceed GHS4 billion by year-end," Maafo stated. The ILO report had highlighted potential risks for SSNIT, predicting a decline in the reserve ratio from 3.4 in 2021 to zero by 2036. However, Mr. Maafo reassured attendees, inc luding over 200 members of the National Pensioners Association (NPA), of SSNIT's financial health, citing a surplus of approximately GHS230 million in 2021 and greater surpluses in subsequent years due to effective investment management and cost controls. SSNIT also plans to expand its coverage to include self-employed individuals, reinforcing its commitment to providing secure retirement options for all workers. The engagement allowed for open dialogue between SSNIT and its pensioners, addressing concerns and clarifying benefits. Mr. Maafo emphasized SSNIT's efforts to ensure sustainability through improved contribution collection, cost management, and prudent investments. Local NPA Chairman Jacob Adantey echoed these sentiments, recognizing the reliability of SSNIT since its establishment in 1991 and advocating for continued open dialogue and improvement of the pension system.