Social Security and National Insurance Trust (SSNIT) has informed pensioners in Ghana to expect about 10 percent increment in 2022 pension scheme.
According to SSNIT, the decision was agreed on after consultation with National Pensions Regulatory Authority (NPRA) and in line with Section 80 of the National Pensions Act 2008 ( Act 766).
In a press release, SSNIT stated that, all pensioners on the pension payroll as at 31st January, 2021 would have their monthly pension increased by a fixed rate of 9.68% plus a redistributed flat amount of Gh¢3.44.
This means that, the highest-earning pensioners as at 31st January, 2021 would receive Gh¢ 142,564.47 and Pensioners receiving the minimum pension of Gh¢300.00 would have their monthly pension increased to Gh¢332.48.
At the announcement of the 2022 Pension Indexaration Rate, the Director General of SSNIT, Dr. Ofori Tenkorang said, “this is to ensure pensioners purchasing power to what that means is that every pensioner will at least the targeted inflation rate of 9.68 percent and then the difference between that, and the 10 percent, which is the 0.32 per cent is distributed equally among all pensioners”.
