Government has fully settled the GH¢1.05 billion it owed the Social Security and National Insurance Trust (SSNIT) for 2024, marking a significant improvement in the management of pension contributions and public sector obligations.
The disclosure was made by SSNIT Director-General Kwasi Afreh Biney, who revealed that the entire outstanding amount had been cleared by the end of March 2025, with the majority of payments made directly in cash.
Speaking on the settlement of the debt, Mr. Biney explained that cash payments accounted for more than 70 percent of the amount owed.
“Most of the payments have been cash, in fact, more than 70% of the payments have been cash,” he stated.
He noted that the only exception occurred during the final quarter of 2024, when government used a short-term Treasury bill instrument to cover contributions for October, November, and December.
“The only time that there was an instrument was from October to December last year. So we had an instrument issued in December, which was a T-bill,” he explained, adding that the instrument is expected to mature this year.
Apart from that arrangement, all other payments from last year to date were made in cash, according to the SSNIT boss.
No Arrears Carried Into 2025
Mr. Biney further disclosed that government entered 2025 without any outstanding SSNIT contribution arrears, a development he described as a major milestone.
“So, 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,” he said.
He added that government had not only cleared its obligations but had also begun making advance payments before contributions became due. “2025, there's no arrears, we didn't enter,” he emphasized.
According to the SSNIT Director-General, government made part-payment of December 2025 contributions before the end of the year, reducing the amount owed when January began.
“Government in December last year actually made part payment of the bill that will be due in January,” he disclosed.
Mr. Biney described the move as unprecedented, noting that it reflects a more proactive approach to meeting statutory pension obligations.
The development signals stronger fiscal discipline and improved compliance with pension contribution requirements, providing reassurance to contributors and strengthening confidence in Ghana’s social security system.
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