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JUST IN: SSNIT Announces 10% Monthly Pension Increment

 

The Social Security and  National Insurance Trust (SSNIT) in a media release has disclosed that there is going to be an increase of 10% in the monthly pension contribution this year.

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According to the release sighted by Honestynewsgh, the National Pensions Regulatory Authority (NPRA) were consulted  in line with Section 80 of the National Pensions Act 2008 (Act 766), before the
10% increment.

According to SSNIT, this increment shall be implemented as follows:

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“All Pensioners on the SSNIT Pension Payroll as at 31st December, 2021 will have their monthly pension increased by a Fixed Rate of 9.68% plus a redistributed Flat Amount of GH¢3.44.”

The effective increase in pensions would therefore range from 9.683% for the highest earning pension to 10.83% for the lowest pension earner.

Accordingly, the highest earning Pensioner as at 31t December 2021 will receive
GH¢ 142,564.97 and Pensioners receiving the minimum pension of GH¢300.00 as at 31 December, 2021 will have their monthly pensions increased to GH¢332.48.

The minimum pension for all new Pensioners effective January 2022 will be
GHc300.00. This means, Pensioners whose computed monthly pensions fall below
GHc300.00 will be placed on this minimum.

NOTE: Pensioners will be paid on the third Thursday of every month.

 

Source: Honestynewgh.com

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