The Social Security and National Insurance Trust (SSNIT) has announced a 20 percent increase in the monthly pension payments for 2016.
According to a statement signed by the Corporate Affairs Manager of SNNIT, Evangeline Amegashie, the increase was made in accordance with Section 80 of the National Pensions Act 2008 (Act 766)
[contextly_sidebar id=”Us4WVEcAHLXvG0QNex4kbWVPnMYSOTjC”]The current pensioners on the scheme as at the end of 2015 “will have their pensions increased by a fixed rate of 12% plus,” while an “additional flat amount of GH¢ 39.29” would also be paid per pensioner.
As such, the minimum wage for the current pensioners on the SSNIT programme will rise from GH¢230.00 to GH¢296.89.
The statement also added that all new pensioners from January 2016 will get a pension of GH¢276.00 monthly.
Last April, SSNIT paid lump sums to 4,864 pensioners who were affected by the amendment of the Pensions Act 883.
The company also denied media reports that government owed it about GHC 8 billion.
By: citifmonline.com/Ghana