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The Social Security and National Insurance Trust (SSNIT) has approved a 10 per cent increase in pension payments for the 2026 pension year.
The adjustment, which was approved in consultation with the National Pensions Regulatory Authority (NPRA), will be implemented through a combination of a 6 per cent across-the-board increase for all pensioners and a redistribution of the remaining 4 per cent to benefit lower-income pensioners.
According to SSNIT, the redistribution mechanism is aimed at ensuring pensioners on the lower end of the pension scale receive higher effective increases compared to those receiving higher pensions.
As part of the new adjustment, pensioners currently receiving the minimum monthly pension of GH¢300.00 will see their payments increase to GH¢409.56 in 2026. This represents a 36.52 per cent rise, far above the overall indexation rate.
Speaking at a press conference in Accra, SSNIT’s Chief Actuary, Evelyn Adjei, revealed that the minimum monthly pension for new pensioners has also been increased from GH¢300.00 to GH¢400.00, further strengthening the pension floor under the scheme.
She explained that several factors were taken into account in determining the 2026 indexation rate, including salary growth among active contributors, projected inflation of 8 ± 2 per cent by the end of 2025, and the long-term sustainability of the pension fund.
While pensioners receiving higher benefits are expected to see increases closer to the 10 per cent benchmark, SSNIT noted that lower-income pensioners will benefit the most due to the flat redistribution component and the enhanced minimum pension.
