The Social Security and National Insurance Trust (SSNIT) has confirmed a 10% increase in monthly pension payments, effective January 2026.
According to a report by citinewsroom.com, the adjustment, approved alongside the National Pensions Regulatory Authority (NPRA), introduces a weighted structure aimed at providing greater support to retirees with lower benefits.
The indexation will be applied in two parts: a flat 6% increase for all pensioners, with the remaining 4% pool redistributed to bolster the incomes of those at the lower end of the pension scale.
This mechanism ensures that the effective raise for lower-income pensioners will exceed the headline 10% rate, the report added.
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Their payment will jump from GH¢300 to GH¢409.56 in 2026, marking a 36.52% increase.
Separately, SSNIT has raised the minimum monthly pension for new retirees from GH¢300 to GH¢400, establishing a higher baseline for future pensioners.
Evelyn Adjei, Chief Actuary at SSNIT, outlined that the 2026 indexation rate was determined by key economic indicators, including salary growth of active contributors, the government’s projected inflation band of 8% ± 2 by end-2025, and the imperative to maintain the pension fund’s long-term sustainability.
“SSNIT has also increased the minimum monthly pension for new pensioners from GH¢300.00 to GH¢400.00, strengthening the pension floor across the scheme,” Adjei stated.
The announcement signals SSNIT’s continued focus on adjusting benefits to reflect economic conditions while prioritising enhanced protection for its most vulnerable retirees.
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