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SSNIT increases 2021 pensions by 10%
The Social Security and National Insurance Trust (SSNIT) has increased monthly pensions by 10% for the year 2021.
In a public notice, SSNIT said the increase means that all retirees on SSNIT payroll as of December 31, 2020 will see their monthly pension increased by a fixed rate of 9.34% representing the average annual inflation of employees. price, plus a redistributed fixed amount of GH ¢ 6.47.
“As a result, retirees receiving the minimum pension of GHS 300.00 as of December 31, 2020 will see their monthly pensions increased to GH ¢ 334.49, an actual increase of 11.5%,” the notice said.
“Redistribution is a mechanism applied to the indexation rate to amortize deputies on low pensions, in accordance with the principle of social security solidarity. Low pensions result from the low base salaries on which contributions have been paid.
“The minimum pension for all new retirees as of January 2021 will be GH ¢ 300.00. This means that retirees whose calculated monthly pensions are less than GH ¢ 300.00 will benefit from this minimum ”.
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The notice also stated that all retirees will be paid on the third Thursday of each month.
The increase was carried out by SSNIT in consultation with the National Pensions Regulatory Authority (NPRA) and in accordance with section 80 of the 2008 National Pensions Act (Act 766).
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