Government Pays Off 2.5 Billion Arrears To SSNIT

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The current government of Ghana has paid an amount of GH₵ 2.5 billion to cater for arrears owed to the Social Security and National Insurance Trust(SSNIT).

This was revealed by the Director General, Kofi Osafo-Marfo, during a speech at an engagement with stakeholding pensioners in Kumasi.

“What we have done recently is that we have had some successes, because the government has paid off two and half of the bond arrears, which helps the underlying position of the Trust”, Mr. Osafo-Marfo explained.

He mentioned further that SSNIT had done their best in paying off pension benefits worth over 3.7 billion to retired workers in Ghana, assuring that the management and staff facilitate efficiency and sustainability of the scheme.

“SSNIT is a partially funded scheme, driven by the sole contributions of those currently contributing and complemented by net investment income. If you look at the net contributions, we are striving hard to improve the returns”.

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