The National Pensioners Association says the Social security and National Insurance trust’s (SSNIT) increment of pensions in the country despite the economic impact of the Covid-19 pandemic is commendable.
SSNIT last week announced that pensioners in Ghana should expect about a 10 percent increase in their pensions for 2022.
Speaking to Citi Business News on the sidelines of the 5th quadrennial Delegates Conference of the National Pensioners’ Association, acting General Secretary of the group, Stephen Boakye, stated that SSNIT exceeded its expectations.
“In fact, we were even expecting lower than the 10 percent. We were very happy when the Director-General announced that it has been increased to 10 percent.”
SSNIT in a press statement indicated that the decision was arrived at in consultation with the National Pensions Regulatory Authority (NPRA) and in line with Section 80 of the National Pensions Act 2008 (Act 766).
SSNIT said this would mean that “the highest-earning Pensioner as at 31st December 2021 will receive GH¢ 142,564.97 and Pensioners receiving the minimum pension of GH¢300.00 as at 31st December 2021 will have their monthly pensions increased to GH¢332.48.”
However, some stakeholders have criticised the increment saying that it will have a meagre impact on pensioners, especially considering the current economic challenges in the country.
But Mr Boakye has a contrary opinion.
“For me, it’s enough (the increment). It is not SSNIT that determines the amount, what you were receiving when you were in active service is what you get when you’re on pension. Some people were contributing GHS5, per my investigations, and yet SSNIT has been always increasing their pension. Some of them are taking home GH¢300, imagine”