The Social Security and National Insurance Trust (SSNIT) has announced that the highest pensioner in Ghana will receive a monthly payment of GH¢169,725.89 from this year.
This marks a 19.05% increase from the previous amount of GH¢142,564.97 received by the highest pensioner in 2022.
The lowest pensioner will receive GH¢430.58, representing a 43.53% increase over the previous year.
These changes are part of SSNIT’s redistribution mechanism. Which aims to cushion members on meagre pensions under the solidarity principle of social security. The Chief Actuary of SSNIT, Joseph Poku, stated that the indexation rate for 2023 is 25%, which is 150% higher than the 10% indexation rate in the previous year.
He also noted that SSNIT will distribute GH¢5 billion to beneficiaries this year.
Pensioners have been struggling with the recent rise in living expenses.
They should find some relief from this announcement.
The government has also implemented several measures to ensure the sustainability of pension payments in the future.
By Godfrey Times
