The government has fully paid the GH¢1.05 billion it owed the Social Security and National Insurance Trust (SSNIT) for 2024, according to SSNIT Director-General Kwasi Afreh Biney.
Speaking on JoyNews’ PM Express Business Edition, Mr. Biney disclosed that the entire debt was cleared by the end of March 2025, with more than 70% of the payments made in cash.
He explained that the only non-cash settlement occurred between October and December 2024, when the government issued a Treasury bill to cover contributions for those months. The short-term instrument is expected to mature this year.
Mr. Biney emphasized that apart from that arrangement, all other payments made since last year have been settled in cash.
He noted that although the government accumulated GH¢1.05 billion in outstanding contributions during 2024, the debt was completely cleared within the first quarter of 2025.
The SSNIT boss further revealed that the government entered 2025 without any unpaid contribution arrears and had even begun making advance payments toward future obligations, describing the development as unprecedented.
According to him, employers are required to remit contributions by the 14th day of the following month. However, the government made a partial payment in December 2025 toward contributions that would only become due in January 2026.
As a result, when the new year began, only a small portion of the December contribution remained outstanding—a situation Mr. Biney said had never occurred before.
The development reflects a significant improvement in the government’s compliance with pension contribution obligations, with SSNIT reporting both the elimination of arrears and the early settlement of some future payments.
Source: myjoyonline.com