Approximately GH¢7 billion in pensions will be disbursed to over 244,000 pensioners nationwide by the Social Security and National Insurance Trust (SSNIT).
Above the GH¢5.4 billion that the Trust paid the previous year, is the sum.
The National Pensioners Association (NPA)’s Pensioners Medical Scheme, a unique medical fund, received GH¢1 million from Dr. John Ofori-Tenkorang, Director-General of SSNIT, who made the announcement.
The Pensioners Medical Scheme (PMS) of NPA is designed to assist the medical needs of retirees who are enrolled in it. This initiative is a result of the management of SSNIT’s 2017 pledge to give the health and welfare of SSNIT Scheme participants national priority.
The Trust had already shown that it was dedicated to helping the NPA. SSNIT provided GH¢300,000 and GH¢500,000 in 2018 and 2019, respectively, to assist the Pensioners Medical Scheme.
SSNIT also gave the NPA a brand-new Toyota Hilux double-cabin pickup truck in 2021 to help with member mobility issues.
“We have been supporting our pensioners because we want them to live long and healthy lives,” stated the director-general of SSNIT. We are grateful for the medical fund they established to help some of their members who are in dire need of financial support. He went on, “We have been contributing and we will keep supporting the welfare of pensioners.”
Additionally, he pointed out that the pledge showed the Trust’s commitment to upholding its social obligation to all SSNIT Scheme retirees who had made contributions to the country’s labor during their working years.
He clarified that over the years, the Trust has been guided and assisted in fortifying the relationship between SSNIT and the NPA by the value that SSNIT placed on pensioners.
“This most recent contribution to the alliance is by no means the last. As part of our social duty to provide a little more comfort for you, our beloved retirees, we will occasionally offer assistance to you whenever we can.”
Stephen Boakye, the General Secretary of the NPA, thanked the SSNIT management for their ongoing assistance to the PMS.
He affirmed that the NPA and SSNIT have a friendly relationship, especially under the present administration, and he promised that the money would be used for the appropriate purpose.
Indexation:
In order to honor its retirement pledge to the Tier 1 pension scheme subscribers, SSNIT, in collaboration with the National payouts Regulatory Authority (NPRA), increased monthly payouts by 15% starting in 2024.
As a result, pensioners’ monthly payments have increased by 15% in accordance with Section 80 of the National Pensions Act, 2008 (Act 766).
As a result, in addition to a redistributed flat amount of ¢79.10, every retiree on the pension payroll will get a monthly pension increase of a set rate of 10%.
As a result, the effective pension rise would always vary, from 10.5% for the pensioner with the greatest income to 36.37% for the pensioner with the lowest income.
