The Social Security and National Insurance Trust (SSNIT) has increased monthly pension payments by 12% for the year 2025.
This decision, made in consultation with the National Pensions Regulatory Authority (NPRA), aligns with Section 80 of the National Pensions Act, 2008 (Act 766).
The 12% increase will be applied to all pensioners on the SSNIT payroll as of December 31, 2024. It comprises a fixed rate of 8% and a flat amount of GH¢72.58. This flat amount represents the remaining 4% of the increase, which is redistributed to ensure a more equitable distribution of benefits among pensioners.
“Redistribution is a mechanism applied to the indexation rate to cushion low-earning pensioners in conformity with the solidarity principle of social security,” stated SSNIT in a press release.
This mechanism ensures that lower-income pensioners receive a more significant increase in their benefits.
As a result, the minimum monthly pension will increase from GH¢300 in 2024 to GH¢396.58 in 2025, representing an effective increase of 32.19%.
This pension adjustment is expected to provide much-needed relief to pensioners facing rising living costs.
