
The Social Security and National Insurance Trust (SSNIT) clarifies that pension payments to members are not sustained by its reserves, contrary to certain media reports suggesting otherwise.
These reports arose amid concerns over the depletion of SSNIT reserves.
In response, SSNIT reassures its members that the fund remains robust, capable of fulfilling benefit payment obligations well beyond 2036.
SSNIT underscores that pension payments are not solely reliant on reserves. The pension scheme, as established by ACT 766, operates as a partially funded system, with payments funded by contributions and returns from investments.
“The Trust therefore assures all Members and the public that it will continue to ensure prudent management of the Fund to meet its benefits payment obligations beyond 2036.”
Attached below is the full statement