Monthly pension allowance has been increased by 20 per cent for 2016, officials of the Social Security and National Insurance Trust (SSNIT) announced Monday.
Accordingly, pensioners on the current minimum monthly pension of GHC230 will now receive a total of GHC296.89 as their monthly pension. The increment is five per cent up from last year’s figure of 15 per cent.
All fresh pensioners from January this year will also receive a new minimum monthly pension of GHC276, a statement released by SSNIT on Monday and signed by its Corporate Affairs Manager, Ms Evangeine Amegashie, said.
The Trust currently has 1.2 million active contributors and over 150,000 pensioner, and “is currently the largest non-banking financial institution in Ghana”.