SSNIT increases 2021 Pension Pay
Minimum pensions pay has been increased to cushion Members on low pensions
Jonas Danquah 
The Social Security and National Insurance Trust (SSNIT) has increased the indexed monthly pensions by 10 per cent in 2021.
This is in accordance with Section 80 of the National Pensions Act 2008 (Act 766).
SSNIT said it is working in consultation with the National Pensions Regulatory Authority (NPRA) to ensure that all Pensioners on the SSNIT Pension Payroll as at December 31st, 2020 will have their monthly pension increased by a Fixed Rate of 9.34 per cent representing the annual average price inflation, plus a redistributed flat Amount of GH¢6.47.
“Accordingly, Pensioners receiving the minimum pension of GH¢300.00 as at December 31st, 2020 will have their monthly pensions increased to GH¢334.49, representing an effective increase of 11.5 per cent,” a statement issued by the SSNIT Public Affairs Department and Copied to the GNA on Thursday [January 7 2020] stated.
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The statement said the redistribution was a mechanism applied to the indexation rate to cushion Members on low pensions in line with the solidarity principle of social security.
SSNIT explained that the low pensions arise as a result of low basic salaries on which contributions were paid; “the minimum pension for all new Pensioners effective January 2021 will be GH¢300.00.
“This means, pensioners whose computed monthly pensions fall below GH¢300.00 will be placed on this minimum”.
