The Social Security National Insurance Trust (SSNIT) has increased pension benefits of pensioners by 18%.
This is however 2 percent lower than that of 2016 which was 20 percent.
In 2016, the pension benefits per pensioner was increased from GH¢230.00 to GH¢296.89.
The current minimum pension for pensioners on the SSNIT pension scheme is GHc276.00.
But per the new review, it has been increased to GHc334.81.
Explaining the revision to Citi Business News, ccording to SSNIT with effect from December 2016, pensions have been increased by a fixed rate of 15% plus an additional flat amount of GHc17.41 per pensioner.
Speaking to Citi Business News the Corporate Affairs Manager of SSNIT, Eva Amegashie explained the breakdown of the 18% increment.
“On the whole there has been an 18% increment for 2017. There is a fixed rate of 15% which everybody is going to collect of whatever salary you are earning plus GHc 17.41 and this will equal the 18 % increment,” the Corporate Affairs Manager of SSNIT, Eva Amegashie explained to Citi Business News.
Meanwhile all fresh pensioners from January 2017 will receive a minimum monthly pension benefit of GHc276.00.
In a related development SSNIT has urged all pensioners who have not yet re-registered for their biometric smart cards to do so by 28th February 2017.
A statement by the scheme indicated all unregistered pensions will have their pension payment delayed if they do not re- register for their smart cards.
Speaking to the issue, Madam Eva Amegashie reiterated the importance of the biometric smart cards.
“It helps us to know those on the pension scheme and you can even use the biometric card for any identity…We have moved into a new environment so even those who are not pensioners are advised to get the smart card,” she stated.
By: Anita Arthur/citibusinessnews.com/Ghana