Ghana’s pensions sector is set for a new era of stability following a breakthrough in the long-standing financial standoff between the Social Security and National Insurance Trust (SSNIT) and the National Pensions Regulatory Authority (NPRA).
Deputy Minister for Finance, Mr. Thomas Nyarko Ampem, announced the development on his Facebook page, sharing that SSNIT has begun meeting its full financial obligations to the NPRA after years of delayed or deferred payments. This progress comes after intensive negotiations between the two institutions, culminating in SSNIT’s agreement to a quarterly payment schedule that will ensure regular and predictable transfers to the pensions regulator.
“I am happy to report that this situation has been successfully resolved. SSNIT has already made two complete quarterly payments this year, demonstrating its renewed commitment to compliance and to the stability of Ghana’s pensions regulatory framework,” Mr. Ampem stated.
The resolution is being hailed as a significant step toward strengthening Ghana’s pensions administration system, promoting greater transparency, accountability, and financial discipline. The Deputy Minister commended both SSNIT and NPRA for their cooperation, emphasizing that the government remains dedicated to fostering institutional harmony in the pensions sector to safeguard the retirement benefits of workers nationwide.
Mr. Ampem added that the Ministry of Finance will continue to monitor compliance to maintain the progress achieved and ensure the long-term financial sustainability of the nation’s pensions ecosystem.
Source: Apexnewsgh.com
