SSNIT Recovers GH¢7.4 Million from Defaulting Employers — PAC Probes Outstanding Contributions
ACCRA, GHANA —The Director-General of the Social Security and National Insurance Trust (SSNIT) Kwesi Afreh Biney has disclosed before Parliament’s Public Accounts Committee (PAC) that management has recovered GH¢7.4 million out of GH¢15.3 million owed by defaulting employers as of December 31, 2023.
The funds were part of contributions owed by 4,867 institutions that had submitted monthly reports but failed to remit payments to SSNIT, a violation flagged in paragraph 1081 of the 2023 Auditor-General’s Report.
“Management has recovered GH¢7,405,865.55 involving 3,440 institutions. Action has also been taken on the outstanding GH¢7.9 million,” the Director-General told the committee. He was answering to the question asked by Alexander Roosevelt Hottordze, Member of Parliament for Central Tongu.
He added that 120 institutions have been referred to the Legal and Inspection General Affairs (LIGA) Unit for enforcement, while 533 institutions owing GH¢5.4 million are under legal review. A further 774 institutions are being pursued through a special recovery exercise expected to lift total recoveries to over GH¢10 million next year.
Auditors confirmed the recoveries, noting their figures GH¢7,102,796.08 closely align with SSNIT’s, pending reconciliation.
A related infraction, cited in paragraph 1087, involved overdue contributions totaling GH¢237,124, which have now been reduced to GH¢32,683, with only two institutions still in arrears one of which has ceased operations.
“We will continue pursuing the remaining two. One company has folded, but we are engaging to recover as much as possible,” the Director-General said.
Member of Parliament for Atwima Nwabiagya North, Frank Yeboah followed up with a questioned SSNIT over unpaid rent totaling GH¢ 793,000 owed by 23 tenants, including both public and private institutions.
According to him the debtors include Ghana Commercial Bank, CHRAJ, MASLOC, and several private companies, pressing management for answers on recovery efforts. Responding, the Director-General reported that GH¢ 729,000 had been recovered from 18 tenants, leaving an outstanding balance of GH¢ 63,000, mostly from defunct private companies.
“We have instituted monthly investment council meetings to ensure accountability and stronger monitoring of property managers,” he explained. “By the time we appear next year, we expect a much better performance.”
However, auditors told the committee that their last verified recovery stood at GH¢ 24,617.65, indicating that updated figures had yet to be formally reconciled.
“We will share the total recovered to date with the audit service so it’s captured properly,” the Director-General assured the committee.
Deputy Finance Minister Thomas Ampem Nyarko assured PAC that SNNIT is working assiduously to manage members' contributions effectively, invest them properly, so that they can make returns and pay good pensions to pensioners.
Read Also
