{"id":64406,"date":"2024-01-13T07:29:51","date_gmt":"2024-01-13T07:29:51","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=64406"},"modified":"2024-01-13T07:08:51","modified_gmt":"2024-01-13T07:08:51","slug":"ssnit-increases-monthly-pension-payment-by-15","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15","title":{"rendered":"SSNIT increases monthly pension payment by 15%"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Ghana. <\/strong><\/span><b>The monthly pension payment for 2024 has been increased by 15 per cent by the Social Security and National Insurance Trust (SSNIT), in consultation with the National Pensions Regulatory Authority (NPRA). <\/b><\/p>\n<p>Beneficiaries would from 18 January 2024 see all their monthly pensions change by a flat rate of 10%, plus a redistributed amount of GHC73.10p for both low and high pension earners, Chief Actuary at SSNIT, Joseph Poku said at a press conference in Accra on Thursday January 11.<\/p>\n<p>\u201cThe indexation is a technique we use to adjust pensions payment to help maintain the purchasing power of pensioners\u201d, Mr. Poku said.<\/p>\n<p>Providing more details, he said all pensioners on the SSNIT Pension Payroll as of December 31, 2023 will have their monthly pension increased by a Fixed Rate of 10% plus a redistributed flat amount of GH\u00a279.10.<\/p>\n<p>He pointed out that the effective increase in pensions would therefore range from 10.05% for the highest-earning pensioner to 36.37% for the lowest-earning pensioner.<\/p>\n<p>\u201cThe 15% indexation rate will result in an additional pension expenditure of \u00a2697.64 million. The total expenditure in 2024 for pensioners on the Pension Payroll as at 31st December 2023 will be \u00a25,387.72 million\u201d.<\/p>\n<p>\u201cRedistribution is a mechanism applied to the indexation rate to cushion low-earning pensioners in conformity with the solidarity principle of social security. The SSNIT Scheme, like any other defined benefit scheme, pays pensions which mirror the earned salaries on which contributions were paid,\u201d Mr Poku said.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/ghana\">Ghana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Ghana. The monthly pension payment for 2024 has been increased by 15 per cent by the Social Security and National Insurance Trust (SSNIT), in consultation with the National Pensions Regulatory Authority (NPRA). Beneficiaries would from 18 January 2024 see all their monthly pensions change by a flat rate of 10%, plus a redistributed [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":64405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-64406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SSNIT increases monthly pension payment by 15% - Ghana<\/title>\n<meta name=\"description\" content=\"The monthly pension payment for 2024 has been increased by 15 per cent by the Social Security and National Insurance ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SSNIT increases monthly pension payment by 15%\" \/>\n<meta property=\"og:description\" content=\"The monthly pension payment for 2024 has been increased by 15 per cent by the Social Security and National Insurance ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-13T07:29:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705116998.650513.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"383\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SSNIT increases monthly pension payment by 15%\",\"datePublished\":\"2024-01-13T07:29:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15\"},\"wordCount\":244,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705116998.650513.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-increases-monthly-pension-payment-by-15\",\"name\":\"SSNIT increases monthly pension payment by 15% - 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