The Social Security and National Insurance Trust (SSNIT) has announced an increase in pension payments for the year 2026. This decision, made in collaboration with the National Pensions Regulatory Authority (NPRA), involves a 10 per cent raise in pension benefits.
In a move to provide a more equitable adjustment, the increase will consist of a fixed 6 per cent raise for all pensioners, with the remaining 4 per cent being redistributed. This redistribution strategy aims to offer higher effective raises to pensioners who are at the lower end of the pension scale.
One of the key highlights of this adjustment is the rise in the minimum monthly pension for some pensioners. Those currently receiving the minimum of GH¢300.00 per month will now see their payments boosted to GH¢409.56 in 2026. This results in an impressive 36.52 per cent surge, surpassing the overall indexation rate.
During a press conference in Accra, SSNIT’s Chief Actuary, Evelyn Adjei, emphasized the strengthening of the pension floor within the scheme by raising the minimum monthly pension for new pensioners to GH¢400.00. Adjei detailed the comprehensive factors taken into account when determining the 2026 indexation rate, including salary growth among active contributors, projected inflation rates, and the fund’s long-term sustainability.
While pensioners with higher incomes will experience increases in line with the 10 per cent rate, Adjei pointed out that individuals with lower incomes are poised to gain the most from this adjustment. This is due to the flat redistribution amount incorporated into the raise and the fortified minimum pension provision.
The approved increase in pension payments signifies a step towards enhancing the financial security of retirees and ensuring a more balanced pension system for all beneficiaries. With a focus on sustainability and equity, SSNIT’s decision for 2026 sets a positive precedent for the welfare of pensioners in Ghana.
