The Social Security and National Insurance Trust (SSNIT) has raised monthly pensions by 10% for 2026, with the structure of the increase skewed towards providing greater relief to low-income pensioners.
Under the new indexation, all pensioners on the SSNIT payroll as of Dec. 31, 2025, will receive a flat 6% increase, together with an additional GH¢91.56 redistributed from the remaining 4%, SSNIT said at a press conference in Accra last Thursday.
The Trust said the redistribution was aimed at cushioning pensioners at the lower end of the income scale amid current economic conditions, in line with the solidarity principle that underpins social security.
“As a defined benefit scheme, pensions are tied to the salaries on which contributions were made,” SSNIT said, adding that periodic adjustments were necessary to preserve purchasing power while protecting the long-term sustainability of the Fund.
SSNIT said the 2026 indexation rate was determined after considering wage growth among active contributors, projected average inflation of 8% plus or minus 2% by the end of 2025, and the impact on the Fund’s finances. The adjustment was approved in consultation with the National Pensions Regulatory Authority, in line with Section 80 of the National Pensions Act, 2008 (Act 766).
About 70% of pensioners are expected to receive the full 10% increase or more due to the redistribution mechanism. Pensioners on the minimum pension of GH¢300 in 2025 will now receive GH¢409 a month, an effective increase of 36.52%, while those earning GH¢500 will see their pensions rise to GH¢621.56, up 24.31%.
Higher earners will see smaller proportional gains. A pension of GH¢2,018 will rise to GH¢2,220, while a GH¢5,000 pension will increase to GH¢5,391.56. The highest pension will rise by 6.05% to GH¢213,991.47.
Chief Actuary Evelyn Adjei said the structure was deliberate. “So if you see, those who are receiving more are receiving less effectively than those who are receiving the minimum pension or the lower bracket pension, and that is to help them get more,” she said.
She said the adjustment would cost an additional GH¢616 million. SSNIT Director-General Kwesi Afreh Biney said the increase protected pensioners against inflation, which stood at 5.4% in December. “For those on a lower rate, they have gone as high as 36.52%,” he said.
