SSNIT has revealed a 15% increase in monthly pension payments for 2024, applicable to all eligible pensioners on its payroll by the end of December 2023.
Starting January 18, 2024, beneficiaries will experience a flat 10% raise along with a redistributed sum of GHC73.10p, benefiting both low and high pension earners.
Joseph Poku, chief actuary at SSNIT, highlighted the commitment to enhancing social security and emphasized the importance of redistributing funds to support those in the lower pension bracket.
“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.”
“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.
