GhArticles.com Every News in Detail
Minimum monthly pensions under the Social Security and National Insurance Trust (SSNIT) have been increased to GHS400 following the approval of a 10 percent pension indexation for 2026. The decision is aimed at cushioning low-income pensioners and strengthening the pension floor.
Under the new arrangement, pensioners who were previously receiving the minimum pension of GHS300 will now earn GHS409.56 per month, representing a 36.52 percent increase, which is significantly higher than the headline indexation rate.
The adjustment was approved by SSNIT in consultation with the National Pensions Regulatory Authority (NPRA), in accordance with Section 80 of the National Pensions Act, 2008 (Act 766).
SSNIT explained that the overall 10 percent indexation consists of a fixed 6 percent increase for all pensioners, alongside a redistributed flat amount of GHS91.56 derived from the remaining 4 percent. This redistribution mechanism, based on the solidarity principle of social security, is designed to reduce disparities across the pension spectrum and deliver more meaningful benefits to lower-income retirees.
Speaking at a press conference in Accra, the Director-General of SSNIT, Kwasi Afreh-Biney, said the move reflects the Trust’s commitment to protecting pensioners, particularly those at the lower end of the income scale.
He explained that new pensioners who previously entered the scheme at GHS300 per month will now start at GHS400, representing a 33 percent increase. He noted that at a time when inflation stands at 5.4 percent, the adjustment demonstrates SSNIT’s resolve to preserve the value of pensions while ensuring the long-term sustainability of the fund.
SSNIT noted that key factors influencing the 2026 indexation included salary growth among active contributors, projected average inflation of 8 ± 2 percent by the end of 2025, and the need to maintain the long-term viability of the pension scheme.
While higher-earning pensioners will receive increases closer to the 10 percent headline rate, lower-income pensioners are expected to benefit the most due to the strengthened minimum pension floor.
The Trust further disclosed that the highest-earning pensioner, who received GHS201,792.37 as of December 31, 2025, will earn GHS213,991.47 per month in 2026. Monthly pension payments will continue to be made on the third Thursday of every month.
