Government Clears GH¢1.05 Billion SSNIT Arrears, Makes Advance Payments for 2026

The state settled its entire 2024 contribution debt to Ghana’s pension scheme by March 2025, with more than 70 percent paid in cash, as SSNIT reports no carried-over arrears entering the current year.

The Ghanaian government has fully discharged the GH¢1.05 billion it owed the Social Security and National Insurance Trust for 2024, settling the entire amount by the end of March 2025 with cash accounting for the bulk of payments, according to SSNIT Director-General Kwasi Afreh Biney.

Speaking on JoyNews’ PM Express Business Edition, Biney disclosed that more than 70 percent of the settlements were made in cash. The only deviation occurred in the final quarter of 2024, when the government used a short-term Treasury bill instrument to cover obligations for October, November, and December. That instrument matured in 2025.

“For 2024, the government owed 1 billion and 50 million cedis, but by the end of March 2025, the government had paid that in cash,” Biney said. He added that the government entered 2025 with no outstanding contribution arrears, a departure from previous years.

In an unprecedented move, the state made advance payments before the start of 2026. “In December last year, the government actually made part payment of the bill that will be due in January for December last year,” Biney revealed. That meant the government entered January owing only a portion of the December 2025 contribution. “That had never happened,” he said.

Employers are generally required to make contributions by the 14th day of the following month. Biney noted that while contributions for May are due from June 14, the government has demonstrated a proactive approach to meeting its obligations.

Market observers speaking to Accra Street Journal noted that the improved payment discipline could strengthen confidence in the state’s commitment to the pension scheme, which has faced scrutiny over sustainability and liquidity concerns.

Separately, Biney disclosed that SSNIT has reduced the average turnaround time for processing pension claims to seven days, down from longer delays in previous years. He attributed the improvement to digital transformation efforts, while emphasising that technology adoption requires a mindset shift among users. “If you’ve invested in technology but you haven’t gotten people to accept it and use it, you will not get the benefits that you seek,” he said.

SSNIT has established a dedicated department to improve digital channels and encourage usage, with the institution making digital engagement the default option for accessing services. Face-to-face interactions are now positioned as complementary.

On the scheme’s long-term viability, Biney said the latest actuarial report, conducted by the UK Government Department of Actuarial Services, indicates that SSNIT can pay benefits for the next 40 years. That assessment follows an International Labour Organisation report that raised sustainability concerns and prompted calls for reforms. “There is no need for anyone to be worried,” Biney said, adding that SSNIT is due for another external actuarial assessment in 2027.

The Director-General also revealed that SSNIT is exploring options to attract contributors from the informal sector, focusing on offering stronger value propositions to current members. On questions of increasing the pension age or contribution rates, Biney said no decisions have been made, emphasising that any changes would require careful stakeholder engagement.

Source: Accra Street Journal 

Last Updated on June 8, 2026 by Samuel Kwame Boadu

Samuel Kwame Boadu

Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.

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