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Minimum monthly pensions under the Social Security and National Insurance Trust (SSNIT) have been increased to GHS 400 following the approval of a 10 per cent pension indexation for 2026, a move aimed at cushioning low-income pensioners and strengthening the pension floor.
Under the new arrangement, pensioners who were previously receiving the minimum pension of GHS 300 will now earn GHS 409.56 per month, representing a 36.52 per cent increase, far above the headline indexation rate.
The adjustment was approved by SSNIT in consultation with the National Pensions Regulatory Authority (NPRA) in line with Section 80 of the National Pensions Act, 2008 (Act 766).
SSNIT explained that the overall 10 per cent indexation comprises a fixed 6 per cent increase for all pensioners, together with a redistributed flat amount of GHS 91.56 from the remaining 4 per cent. This redistribution mechanism, anchored in the solidarity principle of social security, is intended to narrow disparities across the pension spectrum and deliver more meaningful gains to lower-income retirees.
Speaking at a press conference in Accra, the Director-General of SSNIT, Mr Kwasi Afreh-Biney, said the decision would help protect the value of pension contributions, particularly for low-income earners.
“New pensioners on the payroll used to come in at GHS 300. That has now been increased to GHS 400 — another growth of 33 per cent. At a time when inflation stands at 5.4 per cent, this again demonstrates our commitment to protecting those at the lower end, while ensuring sustainability. In line with our strategy, we will continue to safeguard the value of pensions, taking inflation and other variables into account,” he said.
SSNIT noted that factors influencing the 2026 indexation included salary growth among active contributors, projected average inflation of 8 ± 2 per cent by the end of 2025, and the long-term sustainability of the pension fund.
While higher-earning pensioners will receive increases closer to the headline rate, lower-income pensioners will benefit from significantly higher effective adjustments due to the strengthened minimum pension floor.
The Trust also disclosed that the highest-earning pensioner, who earned GHS 201,792.37 as of December 31, 2025, will receive GHS 213,991.47 per month in 2026.
SSNIT further announced that monthly pension payments will continue to be made on the third Thursday of every month.
Source: citinews
