SSNIT contributions are secured; will not deplete in coming years – NPRA

The National Pensions Regulatory Authority (NPRA) has reassured contributors of the security of Social Security and National Insurance Trust (SSNIT) funds, despite an International Labour Organisation (ILO) report projecting depletion by 2036.

The ILO's actuarial study indicated that by 2029, total income would not cover annual expenditures.

NPRA CEO John Kwaning Mbroh, speaking on PM Express Business Edition, emphasized that the report is forward-looking and similar to past projections, urging continuous improvements to maintain financial viability.

He noted that actions are being taken to ensure the scheme’s sustainability, referencing a similar 2017 report.