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Published 12 days ago

Pension payments are not funded by reserves – SSNIT on ILO Report

Summary by 3news

Management of the Social Security and National Insurance Trust (SSNIT) has rejected the International Labour Organisation’s (ILO) report, which indicated that the Trust cannot pay benefits by 2036 due to depleting reserves. According to the ILO, total income including contributions, investment income and other income, will no longer be sufficient to pay for annual expenditures, including benefit payments to pensioners, by 2029. “Starting in 202…

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Pension payments are not funded by reserves – SSNIT on ILO Report

Management of the Social Security and National Insurance Trust (SSNIT) has rejected the International Labour Organisation’s (ILO) report, which indicated that the Trust cannot pay benefits by 2036 due to depleting reserves. According to the ILO, total income including contributions, investment income and other income, will no longer be sufficient to pay for annual expenditures, including benefit payments to pensioners, by 2029. “Starting in 202…

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