Pensioners’ monthly allowance up by 10%

Adnan Adams Mohammed
Pensioners are to receive a raise in their monthly pensions
as management of the Social Security and National Insurance Trust (SSNIT) has
increased monthly pension by 10 per cent for the year 2021.
SSNIT, in a statement issued last week, indicated that the
increment was in accordance with Section 80 of the National Pensions Act 2008
(Act766).
This means, current pensioners on SSNIT Pension payroll as
of December 2020, will have their pensions increased by a fixed rate of 9.34
percent. Also, an additional flat amount of GH¢6.47 would also be paid per
pensioner.
“Pensioners on the current minimum monthly pension of
GH¢300.00 will have their pensions increased to GH¢334.49”, the statement said.
It added that all fresh pensioners from January 2021 will
receive a new minimum monthly pension of GH¢300.00.
SSNIT is a Statutory Public Trust charged with the
administration of the First-Tier Contributory Basic National Social Security
Pension Scheme under the National Pensions Act, 2008 Act 766.
The primary responsibility of SSNIT is to replace lost
income of members of the Scheme due to Old age, Invalidity or Death.
The Trust has over 1.2 million active contributors and over
150,000 pensioners.
The Trust is currently the largest non-bank financial
institution in Ghana.
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