Dear Board Members,
I write this letter not as an adversary of SSNIT, but as a Ghanaian citizen, a pensioner, and someone who has devoted considerable time to studying Ghana’s pension system and advocating reforms that strengthen, not weaken, our national social security scheme.

For more than two decades, the Social Security and National Insurance Trust has remained one of Ghana’s most important public institutions. Millions of workers entrust a portion of their monthly earnings to the Trust with the expectation that those contributions will provide income security in retirement.

That expectation imposes a profound fiduciary duty on everyone entrusted with the governance of SSNIT.

Recent years have witnessed renewed public interest in the management of pension funds. Investment decisions, governance issues and public debates surrounding SSNIT have reminded Ghanaians that confidence in a pension institution is built not merely on investment returns but also on transparency, accountability and open communication.

Having recently revisited the history of the 2001 Forensic and Management Audit of SSNIT, I respectfully submit the following questions for your consideration.

1. What became of the recommendations of the 2001 forensic audit? Nearly twenty-five years have passed since the forensic audit reportedly identified governance weaknesses and recommended institutional reforms. Has every recommendation been implemented? If not, which recommendations remain outstanding, and why? Would the Board consider publishing an implementation status report so that contributors and pensioners may better understand the progress made?
2. Would SSNIT support greater transparency by releasing historical audit findings? Many Ghanaians know the 2001 forensic audit only through newspaper reports and public commentary. Would the Board support the publication of the report, or at least a comprehensive summary together with the actions taken in response, subject to any legal limitations? Transparency strengthens confidence. Silence often encourages speculation.
3. Should major pension institutions undergo periodic independent governance reviews? Financial audits are conducted annually. Should governance audits also be institutionalized every three or five years? Such reviews need not imply wrongdoing. Rather, they could provide early warning of emerging governance risks before they become major institutional problems.
4. What additional safeguards now exist to protect contributors’ funds? The public would welcome a clear explanation of the governance improvements introduced since 2001. For example: How are major investment decisions evaluated? What independent due diligence is required? How are conflicts of interest identified and managed? What role does internal audit play before significant commitments are approved? These are questions of governance, not suspicion.
5. Can contributors and pensioners be more meaningfully engaged? The contributors whose savings sustain SSNIT and the pensioners who depend upon it are not merely beneficiaries. They are stakeholders. Would the Board consider periodic public governance forums where contributors, organized labour, pensioners and civil society can engage directly with SSNIT on issues relating to investments, governance and institutional performance? Open dialogue strengthens public trust.
6. How will the Board measure its own success? Investment returns matter. Operational efficiency matters. Customer service matters. Yet perhaps the most important measure of success is whether contributors have confidence that their retirement savings are managed prudently, ethically and transparently. Confidence is earned over many years but can be diminished quickly when governance concerns arise. Protecting that confidence should remain among the Board’s highest priorities.
7. What is the Board’s vision for SSNIT over the next decade? As Ghana’s economy evolves, the demands placed upon SSNIT will continue to grow. How does the Board envisage: improving investment governance; embracing responsible innovation; strengthening risk management; enhancing transparency; and ensuring that future generations inherit an institution even stronger than today’s? This is a conversation worth having with the Ghanaian people.

A Shared Responsibility
This letter is not an accusation. Neither is it an attempt to revisit political controversies of the past. It is an appeal for openness. The strongest institutions in the world are not those that claim to be perfect. They are those willing to examine themselves honestly, acknowledge weaknesses, implement reforms and continuously improve.

SSNIT occupies a unique place in Ghana’s national life. Its success is inseparable from the welfare of millions of workers and pensioners. For that reason, every discussion about governance should be welcomed as an opportunity to strengthen, not diminish the institution.

I therefore respectfully invite the Board to continue deepening transparency, strengthening accountability and engaging more directly with contributors and pensioners. Issues such as pension indexation, digital inclusion, investment performance, the challenges in Tier-2 pensions and the relationship between SSNIT and NPRA are bubbling in the minds of pensioners across the country. The future of Ghana’s pension system depends not only on sound investments but also on enduring public confidence. May that confidence continue to grow.

Yours faithfully,
Fuseini Abdulai Braimah
[Ghanaian, Pensioner, ModernGhana Columnist, and Founder, Pensioners for Reforms (P4R)]

FUSEINI ABDULAI BRAIMAH
+233208282575 / +233550558008
[email protected]