The Social Security and National Insurance Trust (SSNIT) has announced a 10 per cent increase in monthly pensions for all 261,920 pensioners on its payroll as of December 31, 2025.
The 10 per cent indexation rate for 2026 was done in consultation with the National Pensions Regulatory Authority (NPRA) and in accordance with Section 80 of the National Pensions Act, 2008 (Act 766).
All pensioners on the SSNIT Pension Payroll will have their monthly pensions increased by a fixed rate of six per cent plus a redistributed amount of GHS91.56 of the remaining four per cent.
The new rate would make existing pensioners on minimum pension of GHS300 receive GHS409.56 per month – an increase of 36.52 per cent due to the redistribution module, while new those joining the Scheme in 2026 would have a minimum pension of GHS400.
On the other hand, the highest-earning pensioner who received GHS201,792.37 as of 31 December 2025 would receive GHS 213,991.47 per month in 2026.
Kwesi Afreh Biney, the Director-General of SSNIT, speaking at the 2026 pension indexation announcement in Accra on Thursday, said the new rate and redistribution mechanism was to cushion low-earning pensioners in conformity with the solidarity principle of social security.
He explained that, unlike 2025, when pension was increased by 12 per cent against an inflation rate of 23.8 per cent, the 2026 increase of 10 per cent was a growth of nearly five per cent as the inflation rate stood at 5.4 per cent in December 2025.
“It is important to state that the current indexation is higher than the recent inflation rate. What that means is that every pensioner on the payroll has been covered by inflation,” he said, adding that the move showed the Trust’s commitment to the welfare of pensioners.
“This is testament to our commitment to ensure that those at the lower end are as protected as possible, while ensuring sustainability… We will keep growing this fund and ensure that as things improve, the benefits would be passed on to pensioners,” Mr Biney said.
Evelyn Adjei, Chief Actuary, SSNIT, said the Trust used salary growth among active contributors, projected average inflation of 8 ± 2 per cent by the end of 2025 and the overall impact on the Fund’s long-term sustainability to determine the 2026 rate.
She said about 70 per cent of pensioners would get an increase of the 10 per cent, with an additional cost of GHS616.6 million to the Scheme as it estimated to pay over GHS7 billion to pensioners in 2026, with over GHS580 million disbursed monthly.
The decision, she noted, reflected prevailing economic conditions and SSNIT’s statutory responsibility to periodically adjust pensions to help maintain their real value, while safeguarding the financial sustainability of the Scheme for generations.
Mr Frank Mobila, the General Manager of Benefits, SSNIT, said the 10 per cent increase in pension benefits reflected its continued commitment “to protecting the dignity, purchasing power of our pensioners and ensuring the sustainability of the Scheme.”
“The 2026 indexation focuses on cushioning low-income pensioners and strengthening the minimum pension floor, while maintaining responsible pension adjustments across the Scheme,” he said.
As of December 2025, SSNIT paid 261,920 pensioners monthly, with its active contributors being 2.1 million.
Of this number, the private sector membership was two-thirds with one-third from the public sector.
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