SSNIT Boss cautions against raising retirement age over youth employment concerns

The Director-General of the Social Security and National Insurance Trust (SSNIT), Kwasi Afreh Biney, has cautioned that proposals to increase Ghana’s retirement age could have unintended consequences for youth employment, potentially limiting job opportunities for younger workers.

Speaking on Joy News on Wednesday, June 16, 2026, Mr. Biney acknowledged that rising life expectancy and improved health among older citizens have strengthened arguments for extending working years. However, he stressed that such a policy decision must be guided by broader labour market considerations.

“I agree that the demographic numbers have shifted rapidly. A lot more people today in Ghana are living longer, are much stronger even after 60… I agree,” he said.

He explained that while demographic trends are important, they alone cannot determine retirement policy. Issues such as unemployment levels, job creation capacity, and overall labour market conditions must also be taken into account.

“A decision to extend retirement goes beyond just that. You need to consider factors like your employment rate, unemployment numbers, and availability of jobs,” he stated.

According to him, extending the retirement age could help improve the sustainability of the pension system by increasing contributions and delaying benefit payments. However, he warned that such benefits must be weighed against the potential impact on young job seekers entering the workforce.

“If you extend the pension years from, let’s say, 60 now to 65 or 67, what it practically means is that my payout now will reduce whilst more contributions will come in,” he explained.

Mr. Biney further questioned whether the financial gains to the pension system would justify delaying employment opportunities for younger Ghanaians.

“How do we oppose that against probably creating another backlog of five to seven years on unemployed youth who could have come into the employment bracket?” he asked.

He emphasized that any decision on retirement reforms should not be taken unilaterally by a single institution, but rather through broad stakeholder consultation.

“So we all need to go and sit together as stakeholders, brainstorm, deliberate, and ultimately come to a point where we all make a decision, rather than an individual institution like SSNIT deciding,” he said.

Mr. Biney concluded that a balanced approach is necessary, one that considers pension sustainability, labour market pressures, and the need to create sufficient employment opportunities for Ghana’s growing youth population.

He called for careful analysis of available data and policy alternatives before any final decision is made on retirement age reforms.

Prince Antwi

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