According to a communique on the website of SSNIT, all pensioners will enjoy the increase.

SSNIT also indicated that the increment was in accordance with Section 80 of the National Pensions Act 2008 (Act766).

It explained that current pensioners on SSNIT Pension Payroll as of December 31, 2020 will have their pensions increased by a fixed rate of 9.34 percent.

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An additional flat amount of GH¢6.47 would also be paid per pensioner.

Accordingly, pensioners on the current minimum monthly pension of GH¢300.00 will have their pensions increased to GH¢334.49, the statement said.

It added that all fresh pensioners from January 2021 will receive a new minimum monthly pension of GH¢300.00.

SSNIT also stated that pensioners will be paid on the third Thursday of each month.

SSNIT is a Statutory Public Trust charged with the administration of the First-Tier Contributory Basic National Social Security Pension Scheme under the National Pensions Act, 2008 Act 766.

The primary responsibility of SSNIT is to replace lost income of members of the Scheme due to Old age, Invalidity or Death.

Pension is the stream of income that one receives when he or she is out of active service.

The Trust has over 1.2 million active contributors and over 150,000 pensioners.

Meanwhile, the Social Security and National Insurance Trust (SSNIT) saved an amount of GH¢130 million in the last three years through the cleaning of the pensioner’s payroll, the Director-General, Dr John Ofori-Tenkorang revealed.

He said this was done by deleting ‘ghost names’ on the payroll list every year.