SSNIT increases 2026 pensions by 10% and raises minimum payments

The Social Security and National Insurance Trust (SSNIT) has announced a 10 per cent increase in pension payments for 2026, following consultation with the National Pensions Regulatory Authority (NPRA).

Under the new arrangement, all pensioners will receive a 6 per cent fixed increase, with the remaining 4 per cent redistributed to benefit retirees at the lower end of the payment scale.

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This approach is designed to provide larger effective increases for those receiving smaller pensions.

Pensioners currently receiving the minimum monthly payment of GH¢300.00 will see their pensions rise to GH¢409.56 in 2026, representing a remarkable 36.52 per cent increase well above the general indexation rate.

Speaking at a press briefing in Accra, SSNIT’s Chief Actuary, Evelyn Adjei, noted, “SSNIT has also raised the minimum monthly pension for new retirees from GH¢300.00 to GH¢400.00, reinforcing the pension floor across the scheme.”

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Ms Adjei explained that the 2026 adjustments considered several factors, including salary growth among active contributors, projected inflation of 8 ± 2 per cent by the end of 2025, and the long-term sustainability of the fund.

While higher-income pensioners will see increases closer to the full 10 per cent, lower-income retirees stand to benefit most from the flat redistribution and the strengthened minimum pension, she added.