Government is to settle arrears owed to the Social Security and National Insurance Trust (SSNIT) with GH¢200 million and a bond of GH¢700 million.
This will leave an arrears of GH¢800 million, which will be retired in next year’s budget.
The President also tasked the Minister of Employment and Labour Relation to liaise with SSNIT to bring finality to all outstanding pension issues in the next three months.
Addressing workers at the Black Stars Square in Accra to mark this year’s May Day, President Akufo-Addo, noted that government is working towards reducing the unemployment situation in the country.
The 2019 May Day celebration was on the theme “Sustainable Pensions for All – The Role of Social Partners”.