Minimum Pension Now GH¢100

Dr. Frank Odoom, Director General SSNIT

New pensioners will be entitled to a minimum monthly pension of GH¢100.00 with effect from January 2013, the Social Security & National Insurance Trust (SSNIT) has recently stated in a media release issued in Accra.


Signed by Evangeline Amegashie, Corporate Affairs Manager of SSNIT, the release noted that SSNIT increased (indexed) pensions-in-payment for this year in accordance with Section 80 of the National Pensions Act, 2008 (Act 766).


“As a result, all pensions-in-payment as at December 31, 2012, has been increased by a rate of 12.0 percent and a flat amount of GH¢21.36 per pensioner. This gives an overall indexation rate of 22.6 percent for the year 2013.”


It stated that all pensioners receiving monthly pension of less than GH¢100.00 will be placed on a pension of GH¢100.00 per month.


Over the years, concerns have been raised by public servants over inadequacies of the level of pensions to sustain a respectable life for retired public servants.


Of particular concern to most workers’ groups has been the low pensions under the Social Security and National Insurance Trust (SSNIT) Pension Scheme compared to those still under Chapter 30 of the 1950 British Colonial Ordinances (Pension Ordinance No. 42), popularly known as CAP 30.


In addition, pension schemes that have been operated in Ghana so far have, beside their limitations, also failed to consider the plight of workers in the informal sector, who constitute the bulk (about 85 percent) of the working population in Ghana.


Workers’ organizations agitated for the restoration of public service pensions to the level of the provisions available to some public officers under CAP 30, in place of the SSNIT system that was introduced in 1972, as the mandatory and universal pension scheme for all employees.


It was as a result of this that a new pension law, the National Pensions Act, 2008(Act 766) was enacted on December 12, 2008.


The National Pensions Act caters for the establishment of a new contributory three-tier pension scheme with a National Pension Regulatory Authority to oversee the efficient administration of the composite pension scheme.


SSNIT, it would be recalled, called on all pensioners who are 72 years or above to complete life certificates twice a year.


Consequently, such pensioners were advised to visit the nearest SSNIT branch at the beginning of February as well as the beginning of August to complete their life certificates for year 2013.
“Those who, for one reason or another, cannot go to any SSNIT branch should contact the Benefits Customer Service on Telephone Number 030 7011365 for assistance.”