SSNIT announces 18 percent monthly pension increase

The Social Security and National Insurance Trust (SSNIT) has announced that pensioners, beginning this month, will benefit from an 18 percent increment in their monthly pension.

The move, according to SSSNIT, is in accordance with Section 80 of the National Pensions Act, 2008 (Act 766).

In a release issued yesterday, SSNIT said the increment will translate into the following after redistribution:

Current pensioners on the SSNIT Pension as at December, 2016 will have their pensions

Increased by a fixed rate of 15% plus;
An additional flat amount of GH¢41 per pensioner.
Accordingly, all SSNIT pensioners on the current minimum monthly pension of

GH¢276 will have their pensions increased to GH¢334.81.

Meanwhile, the statement added that fresh pensioners from January 2017 will receive a minimum monthly pension of GH¢276.

“SSNIT takes this opportunity to inform all pensioners who have not yet re-registered for their biometric smart cards to do so by 28th February, 2017. All unregistered pensioners will have their pension payment delayed if they do not re -register for their smart cards,” the statement concluded.

– See more at: http://thebftonline.com/business/economy/22496/ssnit-announces-18-percent-monthly-pension-increase.html#sthash.atGFfYCo.dpuf