SSNIT Approves 10% Pension Increase for 2026

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

The adjustment, approved in consultation with the National Pensions Regulatory Authority (NPRA), provides a 6 per cent fixed increase for all pensioners, with the remaining 4 per cent redistributed to favour pensioners on the lower end of the income scale.

This redistribution is intended to ensure that pensioners receiving smaller benefits enjoy higher effective increases than those on higher pensions.

As a result, pensioners currently receiving the minimum monthly pension of GH¢300.00 will see their payments increase to GH¢409.56 in 2026, representing a 36.52 per cent rise—significantly above the general indexation rate.

Speaking at a press conference in Accra, the Chief Actuary of SSNIT, Evelyn Adjei, disclosed that the Trust has also increased the minimum monthly pension for new pensioners from GH¢300.00 to GH¢400.00, thereby strengthening the pension floor across the scheme.

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

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

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