SSNIT approves 10% pension increase for 2026, minimum pension rises to GH¢409.56

The Social Security and National Insurance Trust (SSNIT) has approved a 10 per cent increase in pension payments for 2026.

The adjustment, made in consultation with the National Pensions Regulatory Authority (NPRA), includes a 6 per cent fixed increase for all pensioners, with the remaining 4 per cent redistributed to provide higher effective increases for those at the lower end of the pension scale.

Under the new arrangement, pensioners currently receiving the minimum monthly pension of GH¢300.00 will see their payments rise to GH¢409.56 in 2026, representing a 36.52 per cent increase—well above the overall indexation rate.

At a press conference in Accra, SSNIT’s Chief Actuary, Evelyn Adjei, explained that the minimum monthly pension for new retirees has also been raised from GH¢300.00 to GH¢400.00, further strengthening the pension floor.

She added that factors considered in determining the 2026 indexation rate included salary growth among active contributors, projected inflation of 8 ± 2 per cent by the end of 2025, and the long-term sustainability of the pension fund.

While higher-income pensioners will receive increases closer to the 10 per cent rate, lower-income pensioners are expected to benefit most due to the flat redistribution and the enhanced minimum pension.