The government has fully settled the GHS1.05 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 outstanding amount was cleared by the end of March 2025, with more than 70% of the payments made in cash.

He explained that cash payments accounted for the majority of the debt settlement, while a short-term Treasury bill was used to cover contributions for October, November, and December 2024.

“Most of the payments have been cash. In fact, more than 70% of the payments have been cash,” Mr. Biney said.

He noted that the Treasury bill issued in December 2024 was the only non-cash arrangement used and is expected to mature this year.

According to Mr. Biney, the government accumulated arrears of about GHS1.05 billion during 2024 but successfully cleared the debt by the first quarter of 2025.

“So, for 2024, the government owed GHS1 billion and GHS50 million, but by the end of March 2025, the government had paid that in cash,” he stated.

The SSNIT Director-General further revealed that the government entered 2025 without any outstanding contribution arrears, describing the development as a significant improvement in its payment record.

“2025, there's no arrears. We didn't enter with any arrears,” he said.

Mr. Biney also disclosed that the government had gone beyond clearing its debts by making advance payments on some contributions before they became due, a move he described as unprecedented.

He explained that employers are required to pay SSNIT contributions by the 14th day of the following month. However, the government made part payments in December 2025 toward contributions that were due in January 2026.

As a result, when the new year began, only a small portion of the December 2025 contribution remained unpaid.

“In December last year, by the time we got into January this year, the government only owed a portion of the December 2025 contribution, and that had never happened,” he said.

The development signals a major improvement in the government's compliance with pension contribution obligations and strengthens SSNIT's financial position. With all arrears cleared and some payments made ahead of schedule, SSNIT says the government is currently up to date with its contributions to the national pension scheme.