The Social Security and National Insurance Trust (SSNIT) has announced a 15 per cent increment in monthly pensions with effect from January, 2015.
A statement issued by the Trust on Monday, January 5 said the review was taken ?in accordance with Section 80 of the National Pensions Act 2008 (Act 766).?
Minimum pensions for fresh pensioners from January, 2015 will, as a result, be GH?230.
The increment for current pensioners shall be implemented as follows:
(a) All monthly pensions as at December 31, 2014 will be increased by a fixed rate of 5% plus an additional flat amount of GH?36.92. The GH?36.92 constitutes the remaining 10.0%.
(b) Current pensioners as at December 2014 who were on the minimum monthly pension of GH?200.00 will have their monthly pensions increased to GH?246.43 (i.e. an effective increase of 23.46%).
Source:?Emmanuel Kwame Amoh, tv3network
