SSNIT increases monthly pension payment by 15%
Beneficiaries would from 18 January 2024 see all their monthly pensions change by a flat rate of 10 per cent, plus a redistributed amount of GHC 73.10p for both low and high pension earners
The Social Security and National Insurance Trust (SSNIT) has announced a 15% increase in its 2024 monthly pension payment.
This new rate applies to all legitimate pensioners on the SSNIT pension payroll as of the end of December 2023.
According to SSNIT, beneficiaries would from 18 January 2024 see all their monthly pensions change by a flat rate of 10%, plus a redistributed amount of GHC73.10p for both low and high pension earners.
Announcing the new rate at a press conference ON Thursday ( 11 January), chief actuary at SSNIT, Joseph Poku said the trust is focused on deepening it’s mandate on expanding social security needs.
“Having considered all the four factors, It is my singular honour to announce to you that we came to a rate of 15% for 2024 which will apply to all pensions in payment.”
“We want to be able to redistribute, so that those who are on the low pension bracket will be cushioned, we need to apply a mechanism called redistribution to cushion those at the lower pension bracket,” he said.
Listen to Joseph Poku in the attached audio clip below:
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