SSNIT urges Government to timely pay workers' contribution

The Social Security and National Insurance Trust (SSNIT) has raised concerns over the sustainability of its pension scheme, citing that benefit disbursements are increasing faster than contributions.

SSNIT's Director-General, Kofi Bosompem Osafo-Maafo, attributed the issue to irregular government payments, as it is the largest employer.

He noted that benefit payments surged from GH¢941.27 million in 2014 to GH¢5.46 billion in 2023, while contributions rose from GH¢1.78 billion to GH¢6.01 billion.

The situation is further strained by changes in the National Pensions Act, leading SSNIT to consider innovative strategies and technological advancements to ensure long-term sustainability.