By: Binta Jaiteh
Hon Seedy Keita, the Minister of Finance and Economic Affairs, provided an official response to the recommendations made by the National Assembly’s Public Enterprises Committee (PEC) concerning the Social Security and Housing Finance Corporation (SSHFC).
The PEC had recommended that the SSHFC conduct regular assessments of new businesses to ensure their registration with the relevant schemes, and emphasized the importance of employers remitting their monthly contributions promptly to facilitate timely benefit payments. The committee also urged the corporation to accelerate the implementation of the Social Security Management Information System (SSMIS), which is crucial for ensuring the timely and accurate assessment of contributions and benefits.
In his response, Minister Keita highlighted that the SSHFC has an Inspectorate Unit tasked with ensuring compliance with the SSHFC Act of 2015. This unit actively follows up with employers to ensure they adhere to timely contribution remittance. “The new Social Security Management Information System (SSMIS) is capable of identifying employers who fail to remit their contributions on time, thus supporting the Corporation in its compliance efforts,” he said.
Regarding the prompt payment of benefits, Keita outlined the introduction of “Project 59,” designed to process the retirement applications of individuals in the year preceding their 60th birthday. “We have also implemented a comprehensive workflow system to ensure that all claims are processed and disbursed without delay, within the shortest possible time frame,” he added.
Minister Keita further noted that the corporation rigorously follows up with employers regarding the registration of their employees. The SSHFC works closely with the Registrar of Companies to ensure that all registered businesses are adequately covered under the SSHFC framework. An MOU has also been established with the GRA to include all eligible businesses that pay taxes. Additionally, the SSHFC uses print and social media to inform employers through advertisements, he explained.
Keita emphasized that significant progress is being made in implementing the SSMIS, which is expected to be fully completed by February 28, 2025. Launched in 2023, the system includes several key components such as the Human Resource Management System (HRMS), Electronic Records Management System (ERMS), Customer Relations Management System (CRMS), Attendance and Access Control System (AACMS), Mortgage Management System (MMS), and the Finance Management System (FMS). The Social Security Management System (SSMS) is scheduled to go live in July 2024.
The minister clarified that the delays in implementing the SSMS are primarily due to data-related challenges, which are being addressed through a comprehensive data cleansing exercise that is progressing smoothly. “The implementation process must occur sequentially, starting with an employer phase followed by an employee phase. The employer phase includes the public launch of the employer portal. We recently conducted a large-scale sensitization initiative for employers, which received positive feedback,” he concluded.