The Social Security and National Insurance Trust (SSNIT) has expressed concern over the persistent delays by employers in remitting workers’ contributions, a situation it says is affecting the smooth operation of the scheme and its ability to deliver timely and improved pension benefits.
Speaking during the 2025 SSNIT Media Connect engagement in Tamale, the General Manager in charge of Benefits, Frank Molbila, said while the Trust continues to fulfill its core mandate of collecting contributions and paying benefits, late remittances from employers remain a major challenge.
“At the end of every month, employers are expected to submit contribution reports, containing the names of workers, their salaries, and social security deductions, and make payments by the 14th of the ensuing month. Unfortunately, many employers delay, and SSNIT spends a lot of effort and resources chasing them,” Mr. Molbila explained.
He noted that timely payments are crucial to SSNIT’s investment operations, which in turn generate returns used to sustain and improve pensions.
“If employers pay on time, we can invest the money early and make better returns so we can pay better pensions,” he added.
The SSNIT General Manager also emphasized that the scheme operates a defined benefit system, meaning contributors are guaranteed their benefits once they meet the qualifying conditions. He said this makes compliance and timely contributions essential to maintaining the financial health of the fund.
Mr. Molbila further observed that increasing life expectancy among retirees has implications for the scheme, as it is required by law to pay pensions for life.
“Ghanaians are living longer, which means we must pay benefits until a retiree passes on. This is not necessarily a challenge, but it underscores the importance of regular and timely contributions to sustain the system,” he stated.
He appealed to the media to support SSNIT’s public education efforts by reminding employers of their legal obligations and the broader national interest served by a robust pension system.
The SSNIT Media Connect engagement forms part of activities marking the Trust’s 60th Anniversary, aimed at deepening engagement with stakeholders and highlighting both its achievements and challenges since its establishment in 1965.
Source: A1Radioonline.com|101.1Mhz|Joshua Asaah|Tamale
