SSNIT increases 2022 pension by 10 Percent

Pensioners in Ghana should expect about a 10 percent increase in their pensions for 2022.

This is according to the Social Security and National Insurance Trust (SSNIT).

The decision, according to SSSNIT, was arrived at in consultation with the National Pensions Regulatory Authority (NPRA) and in line with Section 80 of the National Pensions Act 2008 (Act 766).

SSNIT said this would mean that “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.”

These were made known by the Director-General of SSNIT, Dr Ofori Tenkorang, at the announcement of the 2022 Pension Indexation Rate.

He stated that “this is to ensure pensioners purchasing power is preserved and what that means is that every pensioner will get at least the targeted inflation rate of 9.68 percent and then the difference between that and the 10 per cent which is the 0.32 percent is distributed equally distributed among all pensioners.”