The Social Security and National Insurance Trust (SSNIT) has announced a pension increase for retirees on its payroll, with all beneficiaries as of December 31, 2025 set to receive an average rise of 10 per cent in their monthly pensions starting in 2026. The move is aimed at cushioning pensioners against rising living costs and preserving their purchasing power amid economic pressures.
SSNIT said the new pension indexation rate is significantly higher than the 5.4 per cent inflation rate recorded in December 2024, showing a deliberate effort to ensure retirees are not worse off due to inflation. The Director-General of SSNIT, Mr Kwesi Afreh Biney, explained that the adjustment was carefully calculated to protect pensioners while also keeping the pension scheme financially sustainable over the long term.
Speaking at a brief ceremony held in Accra, Mr Afreh Biney said the Trust remains committed to the welfare of retirees who depend on monthly pensions for survival. According to him, the fact that the indexation rate is higher than recent inflation figures means that pensioners’ real incomes are being protected. He stressed that SSNIT understands the financial pressures many retirees face, especially with rising food prices, healthcare costs and utility bills.
SSNIT disclosed that the 2026 pension indexation was determined after considering several key factors. These include the long-term sustainability of the pension fund, projected average inflation of about 8 per cent plus or minus 2 per cent by the end of 2025, and salary increases among active contributors currently paying into the scheme. The Trust said balancing these variables was necessary to ensure that current retirees are supported without placing undue strain on future pension obligations.
In line with Section 80 of Ghana’s National Pensions Act, 2008 (Act 766), SSNIT said the new pension increase was approved after consultations with the National Pensions Regulatory Authority (NPRA). This process, according to the Trust, ensures transparency and regulatory compliance in the management of pension funds.
Beyond the general indexation, SSNIT also announced an increase in the minimum monthly pension, a move that will benefit thousands of low-income retirees. The minimum pension has been raised by 36 per cent, moving from GH¢300 to GH¢400. As a result, about 2,964 additional pensioners will directly benefit from this upward review. For existing minimum pensioners, monthly payments will rise to GH¢409.56 in 2026.
Mr Afreh Biney said the increase in the minimum pension reflects SSNIT’s focus on fairness and social protection, especially for retirees at the lower end of the income scale. He noted that while higher-earning pensioners will enjoy increases closer to the 10 per cent indexation rate, lower-income pensioners will benefit more from the flat-rate adjustment and the higher minimum pension. According to him, this approach ensures equity while maintaining the financial health of the pension scheme.
SSNIT also revealed that the highest-paid pensioner under the scheme will earn GH¢213,991.47 per month in 2026, up from GH¢201,792.37 previously. While this figure has drawn attention, the Trust explained that pension benefits are calculated strictly based on contributions made during active service, in line with pension laws and guidelines.
In terms of overall financial impact, SSNIT disclosed that total pension payments in 2026 are expected to exceed GH¢7 billion, with more than GH¢580 million paid out to retirees every month. This highlights the growing responsibility of the Trust in supporting retired workers across the country and the importance of prudent fund management.
Looking ahead, SSNIT said it plans to expand the scheme by enrolling more contributors. The Trust disclosed that over 200,000 additional participants are expected to be added to the pension scheme by 2026. This expansion, SSNIT noted, is critical to strengthening the contribution base and ensuring the long-term viability of the national pension system.
The Trust concluded that while pension increases will not be uniform across board, the structure of the 2026 indexation ensures that all pensioners benefit meaningfully. Higher earners will see percentage-based increases, while lower-income retirees will enjoy stronger protection through improved minimum pensions and flat adjustments. SSNIT reiterated its commitment to transparency, sustainability and the welfare of pensioners as it continues to manage one of the country’s most important social security institutions.
