The Director General of Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang said the outfit paid out GHC3.3 billion to pensioners in various forms of pensions associated benefits in 2021.
He said the Trust is committed to continue to pay pensions accurately, continuously and properly to all those who qualify to receive SSNIT pensions.
He made these remarks during a press briefing to reveal the new adjusted indexed monthly pensions upwards by 10% for the year 2022.
The Trust made the decision to help cushion and maintain the purchasing power of beneficiaries after a consultation with the National Pensions Regulatory Authority (NPRA) and in line with Section 80 of the National Pensions Act 2008 (Act 766).
In a statement the Trust indicated that all Pensioners on the SSNIT Pension Payroll as at 31st December, 2021 will have their monthly pension increased by a Fixed Rate of 9.68% plus a redistributed Flat Amount of GH¢3.44.
According to SSNIT the effective increase in pensions would therefore range from 9.683% for the highest earning pension to 10.83% for the lowest pension earner.
“Accordingly, the highest earning Pensioner as at 31st December 2021 will receive GH¢ 142,564.97 and Pensioners receiving the minimum pension of GH¢300.00 as at 31st December, 2021 will have their monthly pensions increased to GH¢332.48.
“The minimum pension for all new Pensioners effective January 2022 will be GH¢300.00. This means, Pensioners whose computed monthly pensions fall below GH¢300.00 will be placed on this minimum.”
SSNIT, however, indicates that Pensioners will be paid on the third Thursday of every month.
Source: Abdul-Razak Mohammed(Real Estate Times Africa)