News

SSNIT increases monthly pension payment by 15%

The Social Security and National Insurance Trust (SSNIT) has announced a 15% increase in its 2024 monthly pension payment.

This new rate applies to all legitimate pensioners on the SSNIT pension payroll as of the end of December 2023.

According to SSNIT, beneficiaries would from 18 January 2024 see all their monthly pensions change by a flat rate of 10%, plus a redistributed amount of GHC73.10p for both low and high pension earners.

READ  ‘Govt doesn’t grow money on trees to fund Development’ Amewu justifies E-levy

Announcing the new rate at a press conference ON Thursday ( 11 January), chief actuary at SSNIT, Joseph Poku said the trust is focused on deepening it’s mandate on expanding social security needs.

READ  MPs fight in Parliament during E-levy voting

“Having considered all the four factors, It is my singular honour to announce to you that we came to a rate of 15% for 2024 which will apply to all pensions in payment.”

READ  Dzifa Gomashie picks number one position for NDC Ketu South

“We want to be able to redistribute, so that those who are on the low pension bracket will be cushioned, we need to apply a mechanism called redistribution to cushion those at the lower pension bracket,” he said.

Credit to Asaaseradio

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close