The Social Security and National Insurance Trust (SSNIT) has announced the approved increased maximum and minimum insurable earnings for 2024 by the National Pensions Regulatory Authority (NPRA) as per Section 63(3) of the National Pensions Act, 2008 (Act 766) as follows:
- Maximum insurable earnings GHS52,000.00, equivalent First Tier Contributions as GHS7,020.00; and
- Minimum insurable earnings GHS490.05, equivalent First Tier Contributions as GHS66.16.
These new maximum and minimum insurable earnings for 2024 are effective from January 1, 2024.