The Social Security and National Insurance Trust (SSNIT) has announced the pension indexation rate for 2024. This decision was made in consultation with the National Pensions Regulatory Authority (NPRA) and as per Section 80 of the National Pensions Act, 2008 (Act 766).
- Monthly pensions have been increased by 15% for the year 2024.
- The highest-earning pensioner will receive a monthly pension of GHS186,777.58, reflecting a 10.05% increase.
- The lowest-earning pensioner will receive a monthly pension of GHS409.10, reflecting a 36.37% increase.
- The average monthly pension for 2024 will be GHS1,756.38.
- The minimum monthly pension for 2024 has been set at GHS300.00.
This adjustment aims to ensure that pensioners receive an adequate and fair income to support their needs.