The Social Security and National Insurance Trust (SSNIT) has increased the monthly pension by 11 per cent for this year.
The increment was done in consultation with the National Pensions Regulatory Commission (NPRA) and in accordance with Section 80 of the National Pensions Act, 2008 (Act 766)
Per the increment,pensioners on the 2018 minimum monthly pension of Gh₵276 will now receive a minimum monthly pension of Gh₵316.73, while the minimum monthly pension for all fresh pensioners from January 2019 has been pegged at Gh₵300.
Addressing a press conference today [Tuesday], the Director- General of SSNIT, Dr John Ofori Tenkorang, revealed that scheme would spend an extra cost of Gh₵212.16 million which had already been factored into its operations for the year 2019.
“What we have announced today will take effect immediately. So pensioners who will go for their pensions on January 14 will see an increase, and it’s going to run through the year,” noted.