The 2022 Auditor-General Report, has indicated that some fund managers owe the Social Security and National Insurance Trust (SSNIT) a total of GH¢483.365 million at the beginning of 2021.

However, only ¢6.076 million was received by SSNIT in 2021, leaving a substantial outstanding amount of ¢477.288 million yet to be recovered from the fund managers.

In light of this situation, the AG is advising SSNIT's management to collaborate with the National Pensions Regulatory Authority (NPRA) to ensure that the fund managers promptly remit the unpaid balance without any further delay.

SSNIT's management responded to the audit recommendation, stating that the advance mobilization amount for Antgya Ghana Limited is still pending recovery and remains in effect until the full repayment is received from the said company.

They also assured that they will be cautious in subsequent advance mobilizations to contractors, ensuring they do not exceed the threshold of 15% of the contract sum.

Furthermore, the report highlighted that SSNIT's Short-Term Treasury Sub-Asset Portfolio has the potential to enhance the Trust's liquidity position.

However, recent investments in the Short-Term Treasury Portfolio have been disappointing, as the Trust failed to meet its investment target of 6%.

A deeper analysis of the investment allocations to the Short-Term Treasury over five years revealed that while the Trust's Total Investment Portfolio displayed an upward trend, the allocations to the Treasury Sub-Asset Portfolio have been declining relatively.

To address this issue, the Auditor-General recommended that SSNIT's management increase their investment outlay in the Treasury Sub-Asset Portfolio to bolster its liquidity reserve, thereby providing stronger support to the Trust's financial stability.